(1) Unless the articles or bylaws provide otherwise, each member is entitled to one vote on each matter voted on by the members, including each matter on which a member is entitled to vote under this chapter or the articles or bylaws. Except as expressly prohibited in this chapter, the articles or bylaws may provide for different allocations of votes among member classes or exclude the members or some or all member classes from voting on any issue on which they would otherwise be entitled to vote under this chapter. Persons not retaining a right to vote on more than one occasion for the election of a director or directors shall not be deemed members.
(2) 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:
(a) If only one votes, such act binds all; and
(b) If more than one votes, the vote shall be divided on a pro rata basis. [1989 c.1010 §61; 1991 c.231 §3]Section: Previous 65.207 65.211 65.214 65.217 65.221 65.222 65.224 65.227 65.231 65.234 65.237 65.241 65.244 65.247 65.251 Next
Last modified: August 7, 2008