CHAPTER 37

CHAPTER 37 - CHAPTER SUMMARY Charter Amendments Authority...

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CHAPTER SUMMARY Charter Amendments Authority to Amend statutes permit charters to be amended Procedure the board of directors adopts a resolution that must be approved by a majority vote of the shareholders Combinations Purchase or Lease of All or Substantially All of the Assets results in no change in the legal personality of either corporation Regular Course of Business approval by the selling corporation’s board of directors is required, but shareholder authorization is not Other Than in Regular Course of Business approval by the board of directors and shareholders of selling corporation is required Purchase of Shares a transaction by which one corporation acquires all of or a controlling interest in the stock of another corporation; no change occurs in the legal existence of either corporation, and no formal shareholder approval of either corporation is required Compulsory Share Exchange a transaction by which a corporation becomes the owner of all of the outstanding shares of one or more classes of stock of another Mann CH 37- 1
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CHAPTER 37 - CHAPTER SUMMARY Charter Amendments Authority...

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