2010 West Virginia Code
CHAPTER 31D. WEST VIRGINIA BUSINESS CORPORATION ACT
ARTICLE 6. SHARES AND DISTRIBUTIONS.
§31D-6-603. Issued and outstanding shares.
§31D-6-603. Issued and outstanding shares.(a) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted or canceled.
(b) The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (c) of this section and section six hundred forty of this article.
(c) At all times that shares of the corporation are outstanding, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.
Disclaimer: These codes may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
