Corporations Code - CORP - CORP § 7813

Summary

An amendment must also be approved by the members (Section 5034) of a class, whether or not such class is entitled to vote thereon by the provisions of the articles or bylaws, if the amendment would: (a) Materially and adversely affect the rights, privileges, preferences, restric

Text

An amendment must also be approved by the members (Section 5034) of a class, whether or not such class is entitled to vote thereon by the provisions of the articles or bylaws, if the amendment would:
(a)
Materially and adversely affect the rights, privileges, preferences, restrictions or conditions of that class as to voting, dissolution, redemption or transfer in a manner different than such action affects another class;
(b)
Materially and adversely affect such class as to voting, dissolution, redemption or transfer by changing the rights, privileges, preferences, restrictions or conditions of another class;
(c)
Increase or decrease the number of memberships authorized for such class;
(d)
Increase the number of memberships authorized for another class;
(e)
Effect an exchange, reclassification or cancellation of all or part of the memberships of such class; or
(f)
Authorize a new class of memberships.

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• #1 | Corporations Code - CORP - CORP § 7813

  An amendment must also be approved by the members (Section 5034) of a class, whether or not such class is entitled to vote thereon by the provisions of the articles or bylaws, if the amendment would: (a) Materially and adversely affect the rights, privileges, preferences, restrictions or conditions of that class as …