Section 42 Capital Stock Clauses

• Library: Corporate Organization and Operation 2009 Supp Forms

1. Providing for one class of stock setting authorized capital at the amount on which the minimum incorporation fee is based and expressly denying preemptive rights

Article Five

Paragraph 1: The aggregate number of shares that the corporation is authorized to issue is 30,000, divided into one class. The designation of each class, the number of shares of each class, and the par value, if any, of the shares of each class, or a statement that the shares of any class are without par value are as follows:

Par value per share or
                 Series Number statement that shares are
                 Class (if any) of Shares without par value
                Common None 30,000 $1.00

Paragraph 2: The preferences, qualifications, limitations, restrictions, and special or relative rights, including convertible rights, if any, of the shares of each class are as follows:

No holder of shares of the corporation or of any security convertible into, or of any warrant, option, or right to purchase, subscribe for, or otherwise acquire, shares of any class of the corporation, whether now or hereafter authorized, shall as such holder have any preemptive right to purchase, subscribe for, or otherwise acquire shares of any class of the corporation or any security convertible into, or any warrant, option...