Powers of an Investment Company or International Finance

Company. Notwithstanding any other provision of this Part, an Investment Company or an International Finance Company may, if its articles of incorporation so provide, as to any of the following:

(a)Authorize the issuance of one or more classes of stock or one or more series of stock within any class thereof:

(1)any or all of which classes may be of stock with par value or stock without par value (in which case such amount as shall be capital of the issuer shall be designated not later than sixty

(60)days following issue) and which classes or series may have such voting powers, full or limited, or no voting powers and such designations, preferences and relative, participating, optional or other special rights and qualifications, limitations, restrictions or prohibitions including, without limitation, restrictions or prohibitions on transfer, based upon the nationality or country of residence of a transferee thereof or other factors, as shall be stated and expressed in the articles of incorporation or of any amendment thereto, or in the resolution or resolutions providing for the issuance of such stock adopted by the Board of Directors pursuant to authority expressly vested in it by the provisions of its articles of incorporation;

(2)which are redeemable or convertible into other securities, in whole or in part, at the option of the issuer;

(3)which are redeemable at the option of the holder at a price approximately equal to the shares' proportionate interest in the net assets of the issuer, or convertible at the option of the holder into other securities, and a stockholder may compel redemption or conversion of such shares in accordance with their terms;

(4)which if redeemed or converted may be retired or held as treasury shares as determined from time to time by the Board of Directors; and COL070307 CH. 2 FORMATION OF CORPORATIONS

(5)which provide that no stockholder shall be entitled to cumulate votes in the election of directors as otherwise provided by § 2207 of this Title;

(b)Issue fractional shares; and

(c)Grant preemptive rights, if any, to the holders of any of its securities to subscribe to any or all additional issues of securities of the issuer or to any or all classes or series thereof.