(610 ILCS 10/4) (from Ch. 114, par. 29d)
Sec. 4.
If at such annual or special meeting said changes, or any of them,
be submitted to a vote, and if it shall appear that votes representing
2/3 of all the voting power of the outstanding stock of said company
entitled to vote thereon and also, in the case of any such change in
respect to the capital stock, that votes representing a majority (or such
greater proportion as said articles may require) of all the outstanding
shares of each class of stock of said company, are cast in favor of the
approval of said changes or any of them, so submitted, a certificate
setting forth such approval thereof, verified by the affidavit of the
president or vice-president and under the corporate seal of said company,
shall be filed in the office of the Secretary of State, and a like
certificate filed for record in the office of the recorder of the
county where the principal business office of such corporation is located.
Upon the filing of the certificate in the office of
the Secretary of
State, the change or changes proposed and so approved at such meeting of
the stockholders, shall be, and are hereby declared, accomplished, and the
articles of incorporation or consolidation of the company shall be deemed
to be amended in accordance with said vote of the stockholders:
Any such company authorized by its articles of incorporation or
consolidation to have shares of capital stock without par value may, from
time to time, issue and sell or otherwise dispose of any such shares for
such consideration as may be provided for in said articles or as may be
fixed by the board of directors pursuant to authority conferred by said
articles. When the consideration for which any such share was authorized to
be issued, shall have been received by the company, such share shall be
deemed to be fully paid and non-assessable. The consideration received for
any shares of capital stock without par value shall be truthfully stated,
wherever required, in all papers required to be filed in the office of the
Secretary of State, and in case such shares are issued for property, the
appraised value of such property shall be given.
(Source: P.A. 83-358.)
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