Increase or Diminution of Capital Stock

Bonded indebtedness. No corporation shall increase or diminish its capital stock, or incur, create, or increase any bonded indebtedness unless, at a stockholders' meeting regularly called for the purpose, two-thirds (2/3) of the entire corporate capital stock subscribed shall favor the increase or diminution of the capital stock, or a majority of the subscribed capital stock shall favor the incurring, creating, or increasing of any bonded indebted- ness. Notice of such meeting shall be served as provided in '3105 of this Title. SOURCE: CC § 359.