Section 49-33-23 - Issuance of preferred stock

49-33-23. Issuance of preferred stock.Notwithstanding the provisions of §§47-1A-601 to 47-1A-640.5, inclusive, a corporation, now or hereafter formed under the provisions of this chapter may provide in its articles of incorporation, or in any amendment thereof, for the issuance of preferred stock in series and authorize the board of directors (within the limits, if any, prescribed in such articles of incorporation or amendment) to fix certain or all of the characteristics and rights thereof. Source: SDC 1939, §52.1518 as enacted by SL 1949, ch 211; SL 2005, ch 202, §10.