16-10a-725 - Quorum and voting requirements for voting groups.
16-10a-725. Quorum and voting requirements for voting groups.
(1) Shares entitled to vote as a separate voting group may take action on a matter at ameeting only if a quorum of those shares exists with respect to that matter. Unless the articles ofincorporation or this chapter provide otherwise, a majority of the votes entitled to be cast on thematter by the voting group constitutes a quorum of that voting group for action on that matter.
(2) Once a share is represented for any purpose at a meeting, including the purpose ofdetermining that a quorum exists, it is deemed present for quorum purposes for the remainder ofthe meeting and for any adjournment of that meeting, unless a new record date is or shall be setfor that adjourned meeting.
(3) If a quorum exists, action on a matter, other than the election of directors, by a votinggroup is approved if the votes cast within the voting group favoring the action exceed the votescast within the voting group opposing the action, unless the articles of incorporation or thischapter requires a greater number of affirmative votes.
(4) The election of directors is governed by Section 16-10a-728.
Amended by Chapter 378, 2010 General Session