Unless the articles of incorporation provide otherwise, a corporation's board of directors may adopt at least one (1) amendment to the corporation's articles of incorporation without shareholder action to:

1. (1) extend the duration of the corporation if the corporation was incorporated at a time when limited duration was required by law;
2. (2) delete the names and addresses of the initial directors;
3. (3) change each issued and unissued authorized share of an outstanding class into a greater number of whole shares and fractional shares if the corporation has only shares of that class outstanding;
4. (4) reduce the number of authorized shares solely as the result of a cancellation of treasury shares; or
5. (5) make any other change expressly permitted by this article to be made without shareholder action.

As added by P.L.14-1992, SEC.163.