10-707. Record date
A. The bylaws may fix or provide the manner of fixing the record date for one or
more voting groups in order to determine the shareholders entitled to notice of a
shareholders' meeting, to demand a special meeting, to vote or to take any other
action. If the bylaws do not fix or provide for fixing a record date, the board of
directors of the corporation may fix a future date as the record date.
B. A record date fixed under this section may not be more than seventy days before
the meeting or action requiring a determination of shareholders.
C. A determination of shareholders entitled to notice of or to vote at a
shareholders' meeting is effective for any adjournment of the meeting unless the board of
directors fixes a new record date, which it shall do if the meeting is adjourned to a
date more than one hundred twenty days after the date fixed for the original meeting.
D. If a court orders a meeting adjournment to a date more than one hundred twenty
days after the date fixed for the original meeting, it may provide that the original
record date continues in effect or it may fix a new record date.
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