MODEL BUSINESS CORPORATION ACT 2000/01/02 Supplement,3 Edition 2003 by the American Bar Foundation These files are provided for educational and informational use only,and are not to be promulgated for any other purpose.Nothing contained herein is to be considered as the rendering of legal advice for specific cases,and readers are responsible for obtaining such advice from their own legal counsel.Any persons wishing to reprint these files in part or whole must obtain permission from the Manager,Copyrights and Licensing,American Bar Association,at 312-988-6102. 1.23.EFFECTIVE TIME AND DATE OF DOCUMENT (a)Except as provided in subsection(b)and section 1.24(c),a document accepted for filing is effective: (1)at the date and time of filing,as evidenced by such means as the secretary of state may use for the purpose of recording the date and time of filing;or (2)at the time specified in the document as its effective time on the date it is filed. (b)A document may specify a delayed effective time and date,and if it does so the document becomes effective at the time and date specified.If a delayed effective date but no time is specified,the document is effective at the close of business on that date.A delayed effective date for a document may not be later than the 90th day after the date it is filed. CROSS-REFERENCES Effective date: amendment or restatement of articles of incorporation,see 10.09. merger or share exchange,see 11.06. voluntary dissolution,see 14.03. Filing duty of secretary of state,see 1.25. Filing fees,see 1.22. Filing requirements,see 1.20. 1.24.CORRECTING FILED DOCUMENT (a)A domestic or foreign corporation may correct a document filed by the secretary of state if(1)the document contains an inaccuracy,or(2)the document was defectively executed,attested,sealed, verified or acknowledged.or (3)the electronic transmission was defective. (b)A document is corrected: (1)by preparing articles of correction that (i)describe the document (including its filing date)or attach a copy of it to the articles, (ii)specify the inaccuracy or defect to be corrected,and (iii)correct the inaccuracy or defect;and (2)by delivering the articles to the secretary of state for filing. (c)Articles of correction are effective on the effective date of the document they correct except as to persons relying on the uncorrected document and adversely affected by the correction.As to those persons,articles of correction are effective when filed.MODEL BUSINESS CORPORATION ACT 2000/01/02 Supplement, 3rd Edition © 2003 by the American Bar Foundation These files are provided for educational and informational use only, and are not to be promulgated for any other purpose. Nothing contained herein is to be considered as the rendering of legal advice for specific cases, and readers are responsible for obtaining such advice from their own legal counsel. Any persons wishing to reprint these files in part or whole must obtain permission from the Manager, Copyrights and Licensing, American Bar Association, at 312-988-6102. 8 § 1.23. EFFECTIVE TIME AND DATE OF DOCUMENT (a) Except as provided in subsection (b) and section 1.24(c), a document accepted for filing is effective: (1) at the date and time of filing, as evidenced by such means as the secretary of state may use for the purpose of recording the date and time of filing; or (2) at the time specified in the document as its effective time on the date it is filed. (b) A document may specify a delayed effective time and date, and if it does so the document becomes effective at the time and date specified. If a delayed effective date but no time is specified, the document is effective at the close of business on that date. A delayed effective date for a document may not be later than the 90th day after the date it is filed. CROSS-REFERENCES Effective date: amendment or restatement of articles of incorporation, see § 10.09. merger or share exchange, see § 11.06. voluntary dissolution, see § 14.03. Filing duty of secretary of state, see § 1.25. Filing fees, see § 1.22. Filing requirements, see § 1.20. § 1.24. CORRECTING FILED DOCUMENT (a) A domestic or foreign corporation may correct a document filed by the secretary of state if (1) the document contains an inaccuracy, or (2) the document was defectively executed, attested, sealed, verified or acknowledged, or (3) the electronic transmission was defective. (b) A document is corrected: (1) by preparing articles of correction that (i) describe the document (including its filing date) or attach a copy of it to the articles, (ii) specify the inaccuracy or defect to be corrected, and (iii) correct the inaccuracy or defect; and (2) by delivering the articles to the secretary of state for filing. (c) Articles of correction are effective on the effective date of the document they correct except as to persons relying on the uncorrected document and adversely affected by the correction. As to those persons, articles of correction are effective when filed