{"data":{"id":"us-dc/d.c.-code-29-304.02","jurisdiction":"us-dc","citation":"D.C. Code § 29-304.02","heading":"Terms of class or series determined by board of directors.","body":"(a)\nIf the articles of incorporation so provide, the board of directors may, without shareholder approval:\n(1)\nClassify any unissued shares into one or more classes or into one or more series within a class;\n(2)\nReclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or\n(3)\nReclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.\n\n(b)\nIf the board of directors acts pursuant to subsection (a) of this section, it shall determine the terms, including the preferences, rights, and limitations, to the same extent permitted under § 29-304.01, of:\n(1)\nAny class of shares before the issuance of any shares of that class; or\n(2)\nAny series within a class before the issuance of any shares of that series.\n\n(c)\nBefore issuing any shares of a class or series created under this section, the corporation shall deliver to the Mayor for filing articles of amendment setting forth the terms determined under subsection (a) and (b) of this section.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 3. Business Corporations.","Subchapter IV. Shares and Distributions.","Part A. Shares."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-304.02","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"c10e4ca76331ef9f2c022d77e92ad00aef6e5db9b0ebaecbfa4b1b4b1ff737f6","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-304.01","next":"us-dc/d.c.-code-29-304.03"},"notice":"GroundRules: Original legal text. Not legal advice."}