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Session Laws, 1999
Volume 796, Page 2885   View pdf image
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(ii) The rate, amount, and time of payment of the dividends; and

(iii) Whether the dividends are cumulative, cumulative to a limited
extent, or noncumulative;

(4) That any specified class of stock is preferred over another class as to
its distributive share of the assets on voluntary or involuntary liquidation of the
corporation and the amount of the preference;

(5) That any specified class of stock may be redeemed at the option of the
corporation or of the holders of the stock and the terms and conditions of redemption,
including the time and price of redemption;

(6) That any specified class of stock is convertible into shares of stock of
one or more other classes and the terms and conditions of conversion;

(7) That the holders of any specified securities issued or to be issued by
the corporation have any voting or other rights which, by law, are or may be conferred
on stockholders;

(8) For any other preferences, rights, restrictions, including restrictions
on transferability, and qualifications not inconsistent with law;

(9) That the board of directors may classify or reclassify any unissued
stock from time to time by setting or changing the preferences, conversion or other
rights, voting powers, restrictions, limitations as to dividends, qualifications, or terms
or conditions of redemption of the stock;

(10) (i) For any grant to the holders of the stock of the corporation,
including a specified class or series of stock, of the preemptive right to subscribe to:

1. Any or all additional issues of the stock; or

2. Any securities of the corporation convertible into
additional issues of stock; or

(ii) For any definition or limitation of the preemptive rights of
stockholders to acquire additional stock or securities in the corporation; and

(11) For restrictions on transferability OR OWNERSHIP for any purpose,
including restrictions designed to permit a corporation to qualify as:

(i) A real estate investment trust under the Internal Revenue Code
or regulations adopted under the Internal Revenue Code; or

(ii) An investment company under the Investment Company Act of
1940 or regulations adopted under the Investment Company Act of 1940.

(b) (1) In this subsection, "facts ascertainable outside the charter" includes:

(i) An action or determination by any person, including the
corporation, its board of directors, an officer or agent of the corporation, and any other
person affiliated with the corporation; [and]

 

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Session Laws, 1999
Volume 796, Page 2885   View pdf image
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