17-6403.   Same; value.(a) Shares of stock with par value may be issued for such consideration,having a value not less than the par value thereof, as is determined fromtime to time by the board of directors, or by the stockholders if thearticles of incorporation so provide.

      (b)   Shares of stock without par value may be issued for suchconsideration as is determined from time to time by the board of directors,or by the stockholders if the articles of incorporation so provide.

      (c)   Treasury shares may be disposed of by the corporation for suchconsideration as may be determined from time to time by the board ofdirectors, or by the stockholders if the articles of incorporation soprovide.

      (d)   If the articles of incorporation reserve to the stockholders theright to determine the consideration for the issue of any shares, thestockholders shall do so by a vote of a majority of the outstanding stockentitled to vote thereon, unless the articles require a greater vote.

      History:   L. 1972, ch. 52, § 30; July 1.