1. (a) For a corporation incorporated on or after October 1, 1995, unless the charter expressly grants such rights to the stockholder, a stockholder does not have any preemptive right to subscribe to:

   1. (1) Any additional issue of stock; or
   2. (2) Any security convertible into an additional issue of stock.
2. (b) For a corporation incorporated before October 1, 1995, a stockholder shall have preemptive rights as and to the extent in existence before October 1, 1995, unless and until expressly changed or terminated by charter amendment.

3. (c)

   1. (1) A stockholder to whom a preemptive right has been granted may waive the preemptive right.
   2. (2) A written waiver of a preemptive right is irrevocable even though it is not supported by consideration.

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1995, c. 449, § 1, eff. Oct. 1, 1995; Acts 2008, c. 292, § 1, eff. June 1, 2008.

Formerly Art. 23, § 30.