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California Code, Corporations Code - CORP § 7813

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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.

Cite this article: FindLaw.com - California Code, Corporations Code - CORP § 7813 - last updated January 01, 2019 | https://codes.findlaw.com/ca/corporations-code/corp-sect-7813.html


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