CODE OF VIRGINIA

AUTHORITY TO AMEND ARTICLES OF INCORPORATION (§ 13.1-705)

A. A corporation may amend its articles of incorporation at any time to add or
change a provision that is required or permitted in the articles or to delete a
provision not required in the articles. Whether a provision is required or
permitted in the articles of incorporation is determined as of the effective
date of the amendment.

B. A shareholder of the corporation does not have a vested property right
resulting from any provision in the articles of incorporation, including
provisions relating to management, control, capital structure, dividend
entitlement, purpose, or duration of the corporation.

HISTORY: Code 1950, § 13.1-55; 1956, c. 428; 1958, c. 564; 1985, c. 522.