California Legal Codes and Statutes

§ 406

Added by Stats. 1975, Ch. 682.

Unless the articles provide otherwise, the board may issue shares, options or securities having conversion or option rights without first offering them to shareholders of any class.

Cite this section

Cal. Corp. Code § 406 (2026)
https://ca.codecond.com/codes/corp/title-1-corporations/division-1-general-corporation-law/chapter-4-shares-and-share-certificates/section-406

Other sections in Chapter 4 - Shares and Share Certificates

§ 400§ 401§ 402§ 402.5§ 403§ 404§ 405§ 406§ 407§ 408…§ 414§ 415§ 416§ 417§ 418§ 419§ 420§ 421§ 422§ 423

This content is for reference, learning, and study purposes only. All legal text should be verified against the official California Legislative Information website, which is the authoritative source for California law. Data last processed: February 16, 2026.