CPA · Business Corporations Act
Part 5 — Corporate Finance
29 Shares in series
in them, the issue of any class of shares in one or more series and
may do either or both of the following:
(a) fix the number of shares in each series and determine the
designation, rights, privileges, restrictions and conditions
attaching to the shares of each series;
(b) authorize the directors to fix the number of shares in eac h
series and to determine the designation, rights, privileges
and conditions attaching to the shares of each series at the
time the shares are issued.
(2) If any cumulative dividends or amounts payable on return of
capital in respect of a series of shares are not paid in full, the shares
RSA 2000
of all series of the same class participate rateably in respect of
accumulated dividends and return of capital.
(3) No rights, privileges, restrictions or conditions attached to a
series of shares authorized under this section shall confer on shares
of a series
(a) greater voting ri ghts than are attached to shares of any other
series in the same class that are then outstanding, or
(b) a priority in respect of dividends or return of capital ov er
shares of any other series in the same class that are then
outstanding.
(4) Subsection (3) does not apply to a right or privilege to
exchange a share or shares for, or to convert a share or shares into,
a share or shares of another class.
(5) If the directors exercise their authority under subsection (1)(b),
they shall, before the issue of shares of the series, send to the
Registrar articles of amendment in the form required by the
Registrar to designate a series of shares.
(6) On receipt of articles of amendment designating a series of
shares, the Registrar shall issue a certificate of amendment in
accordance with section 267.
(7) The articles of the corporation are amended accordingly on the
date shown in the certificate of amendment.
RSA 2000 cB-9 s29;2005 c8 s13;2021 c18 s72