[§414-73]  Issued and outstanding shares. 
(a)  A corporation may issue the number of shares of each class or series
authorized by the articles of incorporation.  Shares that are issued are
outstanding shares until they are reacquired, redeemed, converted, or canceled.



(b)  The reacquisition, redemption, or
conversion of outstanding shares is subject to the limitations of subsection
(c) and section 414-111.



(c)  At all times that shares of the
corporation are outstanding, one or more shares that together have unlimited
voting rights and one or more shares that together are entitled to receive the
net assets of the corporation upon dissolution must be outstanding. [L 2000, c
244, pt of §1]