A corporation may issue fractions of a share. If not, it shall (1) arrange for the disposition of fractional interests by those entitled thereto, (2) pay in cash their fair value as of the time when those entitled to receive such fractions are determined or (3) issue scrip or warrants in registered or bearer form entitling the holder to receive a full share upon the surrender of such scrip or warrants aggregating a full share. Fractional shares, but not scrip or warrants unless otherwise provided therein, carry voting, dividend, and liquidation rights. Scrip or warrants may be issued subject to any conditions; in particular, they may be made subject to forfeiture if not exchanged for full shares before a specified date.