§414D-110 - Voting entitlement generally.
[§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]