CHAPTER 51

AN ACT TO AMEND CHAPTER 1, TITLE 8, § 243 (f) OF THE DELAWARE CODE RELATING TO THE REDEMPTION, PURCHASE OR RETIREMENT OF STOCK.

Be it enacted by the General Assembly of the State of Delaware (two-thirds of all Members elected to each House thereof concurring therein):

Section 1. § 243 (f), Chapter 1, Title 8 of the Delaware Code is hereby amended by striking out the said section and substituting in lieu thereof a new section as follows:

(f) Whenever any corporation operated as an investment company shall be obligated, pursuant to its certificate of incorporation, to redeem or repurchase any of its shares at the option of the shareholder, the provisions of this section shall be applicable to all shares redeemed or repurchased pursuant to any method authorized under its certificate of incorporation for the purpose of effecting redemption or repurchases of its shares at the option of the shareholder; and such shares may be retired, the capital of the corporation reduced, and such shares restored to the status of authorized and unissued shares, by compliance with the provisions of this section.

Approved May 28, 1959.