North Dakota Code 6-03-26 – Meeting not required when all stockholders agree in writing to increase or reduction
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If all the stockholders of an association agree in writing to an increase or reduction in its capital stock, no meeting need be called for the purpose of effecting the increase or reduction.
Terms Used In North Dakota Code 6-03-26
- capital: as used in this title embraces the amount of outstanding capital notes and debentures legally issued by any banking institution. See North Dakota Code 6-03-42
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
- written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
The directors shall file such written agreement, together with the certificate required under sections 6-03-23 and 6-03-24, with the secretary of state, who thereupon shall issue the secretary of state’s certificate that the provisions of this title have been complied with.