[§ 414D -110] Voting entitlement generally.
128 words·~1 min read·
/hi/414d-29A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§ 414D -110] Voting entitlement generally.
(a)The right of the members, or any class or classes of members, to vote may be limited, enlarged, or denied to the extent specified in the articles of incorporation. Unless so limited, enlarged, or denied, each member, regardless of class, shall be entitled to one vote on each matter submitted to a vote of members.
(b)Unless the articles or bylaws provide otherwise, if a membership stands of record in the names of two or more persons, their acts with respect to voting shall have the following effect:
(1)If only one votes, the act binds all; and
(2)If more than one votes, the vote shall be divided on a pro rata basis. [L 2001, c 105, pt of §1]