23B.08.040 - Election of directors by certain classes or series of shares.

Election of directors by certain classes or series of shares.

If the articles of incorporation authorize dividing the shares into classes or series, the articles may also authorize the election of all or a specified number of directors by the holders of one or more authorized classes or series of shares. A class, or classes, or series of shares entitled to elect one or more directors is a separate voting group for purposes of the election of directors.

[1989 c 165 § 83.]