The declaration of trust should provide that no amendment thereto may be made unless approved by the vote or written consent of the holders of a majority of the voting securities of the trust; except that no amendment which would change any rights with respect to any outstanding class of securities of the trust, by reducing the amount payable thereon upon liquidation of the trust, or by diminishing or eliminating any voting rights pertaining thereto, may be made unless approved by the vote or written consent of the holders of two-thirds of the outstanding securities of such class.

Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25140, Corporations Code.

History

1. Repealer and renumbering and amendment of former Section 260.140.91 to Section 260.140.90 filed 1-28-82; effective thirtieth day thereafter (Register 82, No. 5).