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Statutes Text

Article - Corporations and Associations


    (a)    A proposed amendment to the charter of a corporation may be abandoned before the effective date of the articles by majority vote of the entire board of directors of the corporation.

    (b)    If the articles have been filed with the Department, notice of abandonment shall be given promptly to the Department.

    (c)    If the proposed amendment to the charter is abandoned as provided in this section, the articles and the amendment have no effect.