Terms of class or series determined by board of directors

If the board of directors acts pursuant to § 47-1A-602 , the board shall determine the terms, including the preferences, rights, and limitations, to the same extent permitted under §§ 47-1A-601 to 47-1A-601.2 , inclusive, of: (1) Any class of shares before the issuance of any shares of that class; or (2) Any series within a class before the issuance of any shares of that series. Before issuing any shares of a class or series created under § 47-1A-602 , the corporation shall deliver to the Office of the Secretary of State for filing articles of amendment setting forth the terms determined under this section. Source: SL 2005, ch 239, § 57.