Title 52, Chapter 5, Section 10
( 52-5-10)
(a) A company desiring to have its capital stock increased shall: (1) File in the office of the Secretary of State a petition signed
with the corporate name, stating: (A) The name and character of the corporation; (B) The date of its original charter and all amendments thereto;
and (C) That it desires to amend the company's charter to increase
its capital stock; (2) File, along with the petition called for in paragraph (1) of
this subsection: (A) A certified abstract from the minutes of the board of
directors showing that the application for the proposed increase
in capital stock has been authorized by the vote of a majority
of the stockholders of the entire capital stock entitled, by the
terms of the corporation's charter, to vote at an annual or
special meeting called for that purpose, by a resolution of the
board of directors; and (B) An affidavit showing that notice of such meeting was mailed
to each stockholder or, in case of death, to the stockholder's
legal representatives or heirs at law, addressed to the
stockholder's last known residence, at least ten days prior to
the day of the meeting. (b) The affidavit called for in subparagraph (a)(2)(B) of this Code
section shall be made and signed in due form of law by the president
or secretary of the company and shall show that the ten days' notice
has been published once a week for four weeks in the newspaper in
which is published the sheriff's sales of the county in which the
principal office of the corporation desiring to increase its capital
stock is located. The stock may be voted in person or by written
proxy. |