Section 804. Class voting on amendment  


Latest version.
  • (a) Notwithstanding any provision in the certificate of incorporation,
      the  holders  of shares of a class shall be entitled to vote and to vote
      as a class upon the authorization of an amendment and,  in  addition  to
      the  authorization  of  the  amendment by a majority of the votes of all
      outstanding shares entitled to vote  thereon,  the  amendment  shall  be
      authorized  by  a majority of the votes of all outstanding shares of the
      class when a proposed amendment would:
        (1) Exclude or limit their right to vote on any matter, except as such
      right may be limited by voting rights given to  new  shares  then  being
      authorized of any existing or new class or series.
        (2)  Change their shares under subparagraphs (b) (10), (11) or (12) of
      section 801 (Right to amend certificate  of  incorporation)  or  provide
      that  their  shares  may  be converted into shares of any other class or
      into shares of any other series of the same class, or alter the terms or
      conditions upon which their shares are convertible or change the  shares
      issuable upon conversion of their shares, if such action would adversely
      affect such holders, or
        (3) Subordinate their rights, by authorizing shares having preferences
      which would be in any respect superior to their rights.
        (b)  If  any  proposed  amendment  referred  to in paragraph (a) would
      adversely affect the rights of the holders of shares of only one or more
      series of any class, but not the entire class, then only the holders  of
      those  series  whose  rights  would  be  affected  shall be considered a
      separate class for the purposes of this section.