1. (a) A corporation's certificate of formation may divide the corporation's authorized shares into one or more classes and may divide one or more classes into one or more series. The certificate of formation must designate each class and series of authorized shares to distinguish that class and series from any other class or series.
2. (b) Shares of the same class must be of the same par value or be without par value, as stated in the certificate of formation.
3. (c) Shares of the same class must be identical in all respects unless the shares have been divided into one or more series. If the shares of a class have been divided into one or more series, the shares may vary between series, but all shares of the same series will be identical in all respects.

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.