Legislation
SECTION 6017
Voting by class or classes of shares
Banking (BNK) CHAPTER 2, ARTICLE 15, TITLE 6
§ 6017. Voting by class or classes of shares. 1. The organization
certificate may contain provisions specifying that any class or classes
of shares or of any series thereof shall vote as a class in connection
with the transaction of any business or of any specified item of
business at a meeting of stockholders, including amendments to the
organization certificate.
2. Where voting as a class is provided in the organization
certificate, it shall be by the proportionate vote so provided or, if no
proportionate vote is provided, in the election of directors, by a
plurality of the votes cast at such meeting by the holders of shares of
such class entitled to vote in the election, or for any other corporate
action, by a majority of the votes cast at such meeting by the holders
of shares of such class entitled to vote thereon.
3. Such voting by class shall be in addition to any other vote,
including vote by class, required by this chapter and by the
organization certificate as permitted by this article.
certificate may contain provisions specifying that any class or classes
of shares or of any series thereof shall vote as a class in connection
with the transaction of any business or of any specified item of
business at a meeting of stockholders, including amendments to the
organization certificate.
2. Where voting as a class is provided in the organization
certificate, it shall be by the proportionate vote so provided or, if no
proportionate vote is provided, in the election of directors, by a
plurality of the votes cast at such meeting by the holders of shares of
such class entitled to vote in the election, or for any other corporate
action, by a majority of the votes cast at such meeting by the holders
of shares of such class entitled to vote thereon.
3. Such voting by class shall be in addition to any other vote,
including vote by class, required by this chapter and by the
organization certificate as permitted by this article.