Amendment Regarding Any Forbids

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Multi-State
Control #:
US-CC-3-369
Format:
Word; 
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The Amendment to Articles of Incorporation proposed by Pacific Enterprises aims to eliminate restrictions on dividends related to retained earnings, thereby providing the company with increased flexibility in financial distributions. If approved, the amendment will allow dividends on Preferred Stock and Common Stock based on funds legally available rather than solely on retained earnings. This change addresses the current limitations imposed by California General Corporation Law that restrict dividend payments as long as Preferred Stock is outstanding. Moreover, the amendment is designed to enhance the authority for share distributions in light of a significant decline in retained earnings due to operational losses. The Board of Directors recommends this amendment, highlighting its belief in the importance of supporting both Preferred and Common shareholders. The form is particularly useful for attorneys, partners, and legal assistants engaged in corporate law, enabling them to understand and navigate the implications of the amendment on shareholder rights and corporate governance. Legal professionals can utilize this form to aid in discussions and preparations for shareholder meetings, ensuring compliance with statutory requirements and protecting the interests of their clients.
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  • Preview Amendment to Articles of Incorporation regarding paying distributions out of any funds legally available therefor
  • Preview Amendment to Articles of Incorporation regarding paying distributions out of any funds legally available therefor
  • Preview Amendment to Articles of Incorporation regarding paying distributions out of any funds legally available therefor
  • Preview Amendment to Articles of Incorporation regarding paying distributions out of any funds legally available therefor

How to fill out Amendment To Articles Of Incorporation Regarding Paying Distributions Out Of Any Funds Legally Available Therefor?

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FAQ

The Constitution provides that an amendment may be proposed either by the Congress with a two-thirds majority vote in both the House of Representatives and the Senate or by a constitutional convention called for by two-thirds of the State legislatures.

Nineteenth Amendment - Women's Right to Vote Passed on June 4, 1919, and ratified August 18, 1920, the Nineteenth Amendment requires that: The right of citizens of the United States to vote shall not be denied or abridged by the United States or by any State on account of sex.

An amendment may be proposed by a two-thirds vote of both Houses of Congress, or, if two-thirds of the States request one, by a convention called for that purpose. The amendment must then be ratified by three-fourths of the State legislatures, or three-fourths of conventions called in each State for ratification.

For example, in the Lok Sabha with a total of 545 members, if 45 were absent, and 100 didn't vote, only 400 members were present and voting. In this case, a simple majority would require at least 201 votes in favor. Simple majorities are needed for various important actions, including: Passing ordinary or money bills.

In the Golaknath case (1967), the Supreme Court held that Parliament could not amend Fundamental Rights, and this power would be only with a Constituent Assembly.

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Amendment Regarding Any Forbids