Amendment of articles--Extension of existence

Prior to the expiration of the period for which it was incorporated or organized a trust company may, with the approval of at least a majority of the capital stock or ownership units of such trust company, amend its articles to extend its existence for an additional period, which may be perpetual. Source: SL 1995, ch 268 , § 5A; SL 2011, ch 212 , § 39.