Louisiana § 12:240 Reclassification of stock

Louisiana Statutes

§ 12:240 — Reclassification of stock

Louisiana·Title 12 Conservation of Cultural Resources

A. In case of a reclassification of stock, the articles of amendment shall state:

(1)The number of shares that have a par value and the par value thereof, and the number of shares that have no par value;

(2)If the shares are divided into classes, a description of the classes, a statement of the number of shares in each class, the designation of each class, and a statement of the preferences, limitations and relative rights of the shares of each class; and

(3)If shares are divided into series, the designation of each series and a statement of the variations in the relative rights and preferences. B. Following a reclassification of stock, the aggregate allocated value of the issued shares shall not exceed stated capital.

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A. In case of a reclassification of stock, the articles of amendment shall state:
(1) The number of shares that have a par value and the par value thereof, and the number of shares that have no par value;
(2) If the shares are divided into classes, a description of the classes, a statement of the number of shares in each class, the designation of each class, and a statement of the preferences, limitations and relative rights of the shares of each class; and
(3) If shares are divided into series, the designation of each series and a statement of the variations in the relative rights and preferences.
B. Following a reclassification of stock, the aggregate allocated value of the issued shares shall not exceed stated capital.

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