Section 10.06.373. Share dividends: restrictions.

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A dividend payable in shares of a class may not be paid to the holders of shares of another class unless authorized by the articles of incorporation or unless payment is authorized by the affirmative vote or the written consent of the holders of at least a majority of the outstanding shares of the class in which the payment is to be made.

Notes

History

(Sec. 1 ch 166 SLA 1988)

                    
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