Sec. 33-1055. Classes of members.
Sec. 33-1055. Classes of members. A corporation may have one or more classes
of members or may have no members. If the corporation has one or more classes of
members, the designation of such class or classes shall be set forth in the certificate of
incorporation and the manner of election or appointment and the qualifications and
rights of the members of each class shall be set forth in the certificate of incorporation
or bylaws. If the corporation has no members, or only members not entitled to vote, that
fact shall be set forth in the certificate of incorporation and the corporation shall operate
under the management of its board of directors. A corporation may issue certificates
evidencing membership therein.
(P.A. 96-256, S. 37, 209.)
History: P.A. 96-256 effective January 1, 1997.