EX-3.1.7 2 dex317.htm ARTICLES OF AMENDMENT Articles of Amendment

EXHIBIT 3.1.7

STATE OF SOUTH CAROLINA

SECRETARY OF STATE

ARTICLES OF AMENDMENT

Pursuant to Section 33-10-106 of the 1976 South Carolina Code of Laws, as amended, the undersigned corporation adopts the following Articles of Amendment to its Articles of Incorporation:

1. The name of the Corporation is Palmetto Bancshares, Inc.

2. Date of Incorporation: 5/13/83

3. Agent’s Name and Address: L. Leon Patterson, 101 W. Main Street, Laurens, SC 29360-2939

4. On May 19, 2009, the Corporation adopted the following Amendment (s) of its Articles of Incorporation:

Article Four of the Corporation’s Articles of Incorporation, as amended, is hereby deleted in its entirety and replaced with the following:

The Corporation is authorized to issue one class of shares to be designated “common.” The total number of shares that the Corporation is authorized to issue is twenty-five million (25,000,000) shares, and the par value of each such share is $5.00.

5. The amendment was adopted by shareholder action. At the date of adoption of the Amendment, the number of outstanding shares of each voting group entitled to vote separately on the Amendment, and the vote of such shares was:

 

Voting Group

   Number of
Outstanding
Shares
   Number of Votes
Entitled to be to
be Cast
   Number of Votes
Represented at
the meeting
   Number of Undisputed
Shares

For or Against

Common Stock

   6,487,630    6,487,630    5,647,029    (For) 5,191,694
            (Against) 455,335

6. The effective date of these Articles of Amendment shall be the date of acceptance for filing by the Secretary of State (See Section 33-1-230(b) of 1976 South Carolina Code of Laws, as amended).

 

Date: May 29, 2009       

/s/ L. Leon Patterson

    Name: L. Leon Patterson
    Title: Chairman and Chief Executive Officer