§ 17-16-631 — Corporation's acquisition of its own shares

(a) A corporation may acquire its own shares and shares so
acquired constitute authorized but unissued shares.
(b) If the articles of incorporation prohibit the reissue
of the acquired shares, the number of authorized shares is
reduced by the number of shares acquired.
(c) The board of directors may adopt articles of amendment
effecting the provisions of this section under article 10 of
this act without shareholder action and deliver them to the
secretary of state for filing.
D. Distributions