(MBCA 6.01) (a) The articles of incorporation
must set forth any classes of shares and series of shares within a class,
and the number of shares of each class and series, that the corporation is
authorized to issue. If more than one class or series of shares is authorized,
the articles of incorporation must prescribe a distinguishing designation
for each class or series and must describe, prior to the issuance of shares
of a class or series, the terms, including the preferences, rights, and limitations,
of that class or series. Except to the extent varied as permitted by this
section, all shares of a class or series must have terms, including preferences,
rights, and limitations that are identical with those of other shares of the
same class or series.
(b)The articles of incorporation
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(MBCA 6.01) (a) The articles of incorporation
must set forth any classes of shares and series of shares within a class,
and the number of shares of each class and series, that the corporation is
authorized to issue. If more than one class or series of shares is authorized,
the articles of incorporation must prescribe a distinguishing designation
for each class or series and must describe, prior to the issuance of shares
of a class or series, the terms, including the preferences, rights, and limitations,
of that class or series. Except to the extent varied as permitted by this
section, all shares of a class or series must have terms, including preferences,
rights, and limitations that are identical with those of other shares of the
same class or series.
(b) The articles of incorporation
must authorize:
(1)
One or more classes or series of shares that together have unlimited voting
rights; and
(2)
One or more classes or series of shares, which may be the same class or classes
as those with voting rights, that together are entitled to receive the net
assets of the corporation upon dissolution.
(c) The articles of incorporation may authorize one
or more classes or series of shares that:
(1) Have special, conditional, or limited voting rights,
or no right to vote, except to the extent otherwise provided by the Nebraska
Model Business Corporation Act;
(2) Are redeemable or convertible as specified in
the articles of incorporation:
(i) At the option of the corporation, the shareholder,
or another person or upon the occurrence of a specified event;
(ii) For cash, indebtedness,
securities, or other property; and
(iii) At prices and in amounts specified or determined
in accordance with a formula;
(3) Entitle the holders to distributions calculated
in any manner, including dividends that may be cumulative, noncumulative,
or partially cumulative; or
(4)
Have preference over any other class or series of shares with respect to distributions,
including distributions upon the dissolution of the corporation.
(d) Terms of shares may
be made dependent upon facts objectively ascertainable outside the articles
of incorporation in accordance with subsection (k) of section 21-203 .
(e) Any of the terms of
shares may vary among holders of the same class or series so long as such
variations are expressly set forth in the articles of incorporation.
(f) The description of the
preferences, rights, and limitations of classes or series of shares in subsection
(c) of this section is not exhaustive.