§415-162 Effect of chapter on existing corporations. The existence of corporations formed or existing on the date of enactment of this chapter or the voting requirements in the articles of incorporation of any such corporation shall not be affected by the enactment of this chapter nor by any change in the requirement or repeal of the laws under which they were formed or created.

Neither the repeals effected by the enactment of this chapter nor the amendment thereof shall impair or take away any existing liability, cause of action, or right against any corporation, its shareholders, directors, or officers incurred prior to the time of the enactment or amendment.

Nothing in this chapter shall affect the validity of any action taken by any corporation, or shall impair or affect the validity of any provision of the articles of incorporation or bylaws adopted by any corporation, prior to the effective date of this chapter.

If provisions of articles of incorporation and bylaws which were adopted by a corporation prior to July 1, 1987, and which are still effective at the time of a particular action or transaction do not provide for a means of effectuating that action or transaction in a manner which would be valid but for this chapter and the repeal of former chapter 416 as it existed immediately prior to July 1, 1987, then to the extent not in conflict with those provisions, this chapter shall apply to that action or transaction.

Notwithstanding anything in this section to the contrary, any provision of any articles of incorporation or bylaws whether or not adopted prior to July 1, 1987, shall be ineffective to the extent that it attempts or purports to vary the requirements for the informational content, execution, delivery, filing and effectiveness of any document required to be delivered to the director pursuant to this chapter. [L 1983, c 167, pt of §1; am L 1985, c 31, §1 and c 270, §4; am L 1987, c 135, §104; am L 1988, c 371, §13]