30-29-1005. AMENDMENT BY BOARD OF DIRECTORS. Unless the articles of incorporation provide otherwise, a corporation’s board of directors may adopt amendments to the corporation’s articles of incorporation without shareholder approval:
(a) To extend the duration of the corporation if it was incorporated at a time when limited duration was required by law;
(b) To delete the names and addresses of the initial directors;
(c) To delete the name and address of the initial registered agent or registered office, if a statement of change is on file with the secretary of state;
(d) If the corporation has only one (1) class of shares outstanding:
(1) To change each issued and unissued authorized share of the class into a greater number of whole shares of that class; or
(2) To increase the number of authorized shares of the class to the extent necessary to permit the issuance of shares as a share dividend;
(e) To change the corporate name by substituting the word "corporation," "incorporated," "company," "limited," or the abbreviation "corp.," "inc.," "co.," or "ltd.," for a similar word or abbreviation in the name, or by adding, deleting or changing a geographical attribution for the name;
(f) To reflect a reduction in authorized shares, as a result of the operation of section 30-29-631(b), Idaho Code, when the corporation has acquired its own shares and the articles of incorporation prohibit the reissue of the acquired shares;
(g) To delete a class of shares from the articles of incorporation, as a result of the operation of section 30-29-631(b), Idaho Code, when there are no remaining shares of the class because the corporation has acquired all shares of the class and the articles of incorporation prohibit the reissue of the acquired shares; or
(h) To make any change expressly permitted by section 30-29-602(a) or (b), Idaho Code, to be made without shareholder approval.
History:
[30-29-1005, added 2015, ch. 243, sec. 65, p. 943; am. 2019, ch. 90, sec. 117, p. 296.]
Structure Idaho Code
Chapter 29 - GENERAL BUSINESS CORPORATIONS
Part 10 - AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS
Section 30-29-1001 - AUTHORITY TO AMEND.
Section 30-29-1002 - AMENDMENT BEFORE ISSUANCE OF SHARES.
Section 30-29-1003 - AMENDMENT BY BOARD OF DIRECTORS AND SHAREHOLDERS.
Section 30-29-1004 - VOTING ON AMENDMENTS BY VOTING GROUPS.
Section 30-29-1005 - AMENDMENT BY BOARD OF DIRECTORS.
Section 30-29-1006 - ARTICLES OF AMENDMENT.
Section 30-29-1007 - RESTATED ARTICLES OF INCORPORATION.
Section 30-29-1008 - AMENDMENT PURSUANT TO REORGANIZATION.
Section 30-29-1009 - EFFECT OF AMENDMENT.
Section 30-29-1020 - AUTHORITY TO AMEND.
Section 30-29-1021 - BYLAW INCREASING QUORUM OR VOTING REQUIREMENT FOR DIRECTORS.
Section 30-29-1022 - BYLAW PROVISIONS RELATING TO THE ELECTION OF DIRECTORS.