§ 2303 Corporate Purpose Limitations

• •Sections 206 and 207 apply to corporations that already existed when the law started.
• •The original purpose or power statements in a corporation’s articles are not treated as limits.
• •Only if the articles explicitly say a statement is a limitation does it restrict the corporation.

A company that was created before this law has in its original paperwork: “We will make toys.”

Even though the paperwork only mentions toys, the company can also start making clothes because the original statement isn’t a restriction unless it specifically said “We cannot do anything else.”