[§421I-4]  Proxies.  (a)  A proxy shallbe valid only for a specific meeting and any of that meeting's adjournments.

(b)  A shareholder may designate any person orthe board of directors as a proxy, and the proxy may be limited as indicated bythe shareholder.  No proxy shall be irrevocable unless:

(1)  The proxy is coupled with a financial interest inthe dwelling unit; or

(2)  The proxy is held pursuant to a first mortgage ofrecord encumbering a dwelling unit or an agreement of sale affecting a dwellingunit.

(c)  A proxy statement shall contain at leastthe following information:

(1)  The name of the corporation;

(2)  The date of the meeting to which the proxy isapplicable;

(3)  The printed name and the signature of theshareholder giving the proxy; and

(4)  The dwelling unit or units for which the proxy isgiven. [L 1993, c 282, pt of §1]