17-1629. Increase of capital.
17-1629
17-1629. Increase of capital.
Any corporation organized under this act may increase its capital to any amount
provided that such increase must be first approved by a 2/3 vote of directors
and then be approved by affirmative vote of 2/3 of the outstanding shares of
voting stock, or if the corporation is organized on the one person, one vote
plan, then by the affirmative vote of 2/3 of the corporation's voting
stockholders. In lieu of affirmative vote of 2/3 of the outstanding shares of
voting stock, or if the corporation is organized on the one person, one vote
plan, then in lieu of the affirmative vote of 2/3 of the corporation's voting
stockholders, the capital may be increased by affirmative vote of 2/3 of the
voting stockholders present and voting at any annual meeting or special meeting
called for such purpose and upon written notice sent by first-class mail to
every stockholder at such stockholder's last known post-office address at least
10 days prior to such meeting.
History: L. 1931, ch. 150, § 12; L. 1968, ch. 379, § 3; L. 1992,
ch. 227, § 24; July 1.