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This entry was published on 2014-09-22
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Class voting on amendment
Business Corporation (BSC) CHAPTER 4, ARTICLE 8
§ 804. Class voting on amendment.

(a) Notwithstanding any provision in the certificate of incorporation,
the holders of shares of a class shall be entitled to vote and to vote
as a class upon the authorization of an amendment and, in addition to
the authorization of the amendment by a majority of the votes of all
outstanding shares entitled to vote thereon, the amendment shall be
authorized by a majority of the votes of all outstanding shares of the
class when a proposed amendment would:

(1) Exclude or limit their right to vote on any matter, except as such
right may be limited by voting rights given to new shares then being
authorized of any existing or new class or series.

(2) Change their shares under subparagraphs (b) (10), (11) or (12) of
section 801 (Right to amend certificate of incorporation) or provide
that their shares may be converted into shares of any other class or
into shares of any other series of the same class, or alter the terms or
conditions upon which their shares are convertible or change the shares
issuable upon conversion of their shares, if such action would adversely
affect such holders, or

(3) Subordinate their rights, by authorizing shares having preferences
which would be in any respect superior to their rights.

(b) If any proposed amendment referred to in paragraph (a) would
adversely affect the rights of the holders of shares of only one or more
series of any class, but not the entire class, then only the holders of
those series whose rights would be affected shall be considered a
separate class for the purposes of this section.