Section 16: Par value of common and preferred shares
Section 16. The par value of the common or preferred shares of all corporations shall be one hundred dollars. Any corporation which may be organized with shares of a par value other than one hundred dollars may at a meeting of stockholders called for the purpose change the par value of its shares to that amount if a certificate of such change shall, within ten days thereafter, be made, signed and sworn to by its president, treasurer and a majority of its directors, or other officers having the powers of directors, and, having been approved as to its form by the commissioner, be filed in the office of the state secretary.