Amendment Pursuant to Reorganization

(a)A corporation’s articles of incorporation may be amended without action by the board of directors or shareholders to carry out a plan of reorganization ordered or decreed by a court of competent jurisdiction under the authority of a law of the United States.

(b)The individual or individuals designated by the court shall deliver to the Director of Revenue & Taxation for filing articles of amendment setting forth:

(1)the name of the corporation;

(2)the text of each amendment approved by the court;

(3)the date of the court’s order or decree approving the articles of amendment;

(4)the title of the reorganization proceeding in which the order or decree was entered; and

(5)a statement that the court had jurisdiction of the proceeding under a law of the United States federal statute.

(c)This section does not apply after entry of a final decree in the reorganization proceeding even though the court retains jurisdiction of the proceeding for limited purposes unrelated to consummation of the reorganization plan.