C. Entitle the holders to distributions calculated in any manner, including dividends that may be cumulative, noncumulative or partially cumulative; or

D. Have preference over any other class or series of shares with respect to distributions, including dividends and distributions upon the dissolution of the corporation.

The description of the designations, preferences, limitations, and relative rights of share classes in this subsection is not exhaustive.

4. Rules of construction for preferred shares. Unless otherwise provided by this Act or by a corporation's articles of incorporation or by resolution of the board of directors in the case of shares whose terms may be fixed as provided by section 602:

A. Shares that are preferred as to dividends are deemed cumulative preferred shares;

B. Shares that are preferred as to dividends are not entitled to participate in dividends beyond the amount of the stated dividend preference;

C. Shares that are preferred as to dividends are preferred, on liquidation of the corporation, to the extent of the par or stated value of the shares, if any;

D. Shares that are preferred as to liquidation are not entitled to participate in liquidation payments beyond the amount of the liquidation preference stated in the articles of incorporation or implied under paragraph C;

E. If preferred shares cumulative as to dividends are entitled to a preferential payment on liquidation, the payment must also include the amount of dividends accrued but unpaid as of the date of liquidation;

F. Shares that are preferred as to dividends or as to payments upon liquidation are not entitled to vote; and

G. "Liquidation," "rights upon liquidation" and terms of like import shall refer to the formal dissolution of the