The shareholders of the outstanding shares of a class shall be entitled to vote as a class upon a proposed amendment, whether or not entitled to vote thereon by the provisions of the articles of incorporation, if the amendment would:
1. Increase or decrease the aggregate number of authorized shares of such class.
2. Increase or decrease the par value of the shares of such class.
3. Effect an exchange, reclassification, or cancellation of all or part of the shares of such class.
4. Effect an exchange, or create a right of exchange, of all or any part of the shares of another class into the shares of such class.
5. Change the designations, preferences, limitations, or relative rights of the shares of such class.
6. Change the shares of such class into the same or a different number of shares of the same class or another class or classes.
7. Create a new class of shares having rights and preferences prior and superior to the shares of such class, or increase the rights and preferences of any class having rights and preferences prior or superior to the shares of such class.
8. Divide the unissued shares of such class into series and fix and determine the designation of such series and the variations in the relative rights and preferences between the shares of such series, or authorize the board of directors to do so.
9. Limit or deny the existing pre-emptive rights, if any, of the shares of such class.
10. Cancel or otherwise affect dividends on the shares of such class which have accrued but have not been declared.
[C71, 73, 75, 77, 79, 81, § 524.1503]
Iowa General Assembly
Search: Iowa Code 1995
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