Section 47-1A-602 - Classification or reclassification of unissued shares determined by board ofdirectors.
47-1A-602. Classification or reclassification of unissued shares determined by board of directors. If the articles of incorporation so provide, the board of directors, without shareholder approval, may:
(1) Classify any unissued shares into one or more classes or into one or more series within a class;
(2) Reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or
(3) Reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.
Source: SL 2005, ch 239, § 56.