§ 7-1.2-907 - Amendment of articles of incorporation in reorganization proceedings. - Rhode Island Statutes

SECTION 7-1.2-907

   § 7-1.2-907  Amendment of articles ofincorporation in reorganization proceedings. – (a) Whenever a plan of reorganization of a corporation has been confirmed bydecree or order of a court of competent jurisdiction in proceedings for thereorganization of the corporation, pursuant to the provisions of any applicablestatute of the United States relating to reorganizations of corporations, thearticles of incorporation of the corporation may be amended, in the mannerprovided in this section, in as many respects as are necessary to carry out theplan and put into effect, as long as the articles of incorporation, as amended,contain only provisions that might be lawfully contained in original articlesof incorporation at the time of making the amendment.

   (b) Articles of amendment approved by decree or order of thecourt must be executed by the trustee or trustees of such corporation appointedin the reorganization proceedings (or a majority thereof), or if none areappointed and acting, by the person or persons that the court designates orappoints for the purpose, and must state the name of the corporation, theamendments of the articles of incorporation approved by the court, the date ofthe decree or order approving the articles of amendment, the title of theproceedings in which the decree or order was entered, and a statement that thedecree or order was entered by a court having jurisdiction of the proceedingsfor the reorganization of the corporation pursuant to the provisions of anapplicable statute of the United States.

   (c) This section does not apply to such corporation upon theentry of a final decree in the reorganization proceedings closing the case anddischarging the trustee or trustees, if any.