§ 47-1a-604-3

47-1A-604.3. Issuance of script--Authorization by board of directors--Conditions.The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including:(1)That the scrip will become void if not exchanged for full shares before a specified date; and(2)That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders. Source: SL 2005, ch 239, §63.