Offshore Banking with a Swiss Bank Account and Nevis LLC

PART V
CORPORATE FINANCE

Classes 31. (1) Every corporation shall have power to issue the number
and series of shares stated in its articles of incorporation. Such shares may be
of shares. of one or more classes or one or more series within any class
thereof, any or all of which classes may be of shares with par value
or shares without par value, and may be registered or bearer shares,
with such voting powers, full or limited, or without voting powers
and in such series and with such designations, preferences and
relative, participating, optional or special rights and qualifications,
limitations or restrictions thereon as shall be stated in the articles
of incorporation or in the resolution providing for the issue of such
shares adopted by the board of directors pursuant to authority
expressly vested in it by the provisions of the articles of
incorporation.
Provided that any share certificate issued to a bearer share
shall not be distributed but shall be retained in the safe custody of
the registered agent for the corporation which issued such
certificate is in the safe custody of any other person authorised by
the Minister from time to time as an approved custodian of any
such bearer share certificate,
(2) The articles of incorporation or the resolution providing
for the issue of shares adopted by the board of directors
may provide that shares of any class of shares or of any
series of shares within any class thereof shall be convertible
into the shares of one or more other classes of shares or
series except into shares of a class or series having rights or
preferences as to dividends or distribution of assets upon
liquidation which are prior or superior in rank to those of
the shares being converted.
(3) A corporation may provide in its articles of
incorporation for one or more classes or series of shares
which are redeemable, in whole or in part, at the option of
the corporation at such price or prices, within such period
and under such conditions as are stated in the articles of
incorporation or in the resolution providing for the issue of
such shares adopted by the board of directors pursuant to
authority expressly vested in it by the provisions of the
articles of incorporation.
(4) A corporation may issue fractional shares.
(5) Before any corporation shall issue any shares of
any class or of any series of any class of which the voting
powers, designations, preferences and relative,
participating, optional or other rights, if any, or the
qualifications, limitations, or restrictions thereof, if any,
have not been set forth in the articles of incorporation, but
are provided for in a resolution adopted by the board of
directors pursuant to authority expressly vested in it by the
provisions of the articles of incorporation, a statement
setting forth a copy of such resolution and the number of
shares of the class or series to be issued shall be executed,
acknowledged, and filed in accordance with section 4 of
Part I of this Ordinance. Upon the filing of such statement,
the resolution establishing and designating the class or
series and fixing the relative rights and preferences thereof
shall become effective and shall constitute an amendment
of the articles of incorporation