Section 10-2B-8.04 Election of directors by certain classes of shareholders.
Section 10-2B-8.04
Election of directors by certain classes of shareholders.
If the articles of incorporation authorize dividing the shares into classes, the articles may also authorize the election of all or a specified number of directors by the holders of one or more authorized classes of shares. A class (or classes) of shares entitled to elect one or more directors is a separate voting group for purposes of the election of directors.
(Acts 1994, No. 94-245, p. 343, §1.)