Sections 417 and 418 of the new law relating to required statements on certificates representing shares apply to certificates representing shares of corporations existing on the effective date only if the shares are originally issued after the effective date, and the prior law shall continue to govern the certificates representing shares originally issued prior to the effective date, unless and until an amendment of the articles is filed pursuant to Section 2302, and the certificate is presented for transfer.

(Amended by Stats. 1977, Ch. 235.)

Terms Used In California Corporations Code 2307

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • effective date: means January 1, 1977. See California Corporations Code 2300
  • new law: means this division of the Corporations Code as amended by act of the California Legislature, 1975-76 Regular Session, effective January 1, 1977, and as in effect on that date. See California Corporations Code 2300
  • prior law: means the applicable law as in effect prior to January 1, 1977. See California Corporations Code 2300
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