§721. Shareholders lists for meeting 1. Lists of shareholders’ names. After fixing a record date for a shareholders’ meeting, a corporation shall prepare an alphabetical list of the names of all its shareholders who are entitled to notice of a shareholders’ meeting. If the board of directors fixes a different record date under section 707, […]
§722. Voting entitlement of shares 1. Entitlement to vote. Except as provided in subsections 2 and 4 or unless a corporation’s articles of incorporation provide otherwise, each outstanding share, regardless of class, is entitled to one vote on each matter voted on at a shareholders’ meeting. Only shares are entitled to vote. The articles of […]
§723. Proxies 1. Voting authorized. A shareholder may vote the shareholder’s shares in person or by proxy. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] 2. Appointment of proxy. A shareholder or the shareholder’s agent or attorney-in-fact may appoint a proxy to vote or otherwise act […]
§724. Shares held by nominees 1. Recognition of beneficial owner as shareholder. A corporation may establish a procedure by which the beneficial owner of shares that are registered in the name of a nominee is recognized by the corporation as the shareholder. The extent of this recognition may be determined in the procedure. [PL […]
§725. Acceptance of votes and other instruments 1. Corresponding name. If the name signed on a vote, ballot, consent, waiver or proxy appointment corresponds to the name of a shareholder, the corporation, if acting in good faith, is entitled to accept the vote, ballot, consent, waiver or proxy appointment and give it effect as the […]
§726. Shares held by minor If the record owner of shares is a minor and the shares are voted under this subchapter by the minor, a guardian or other legal representative of the minor or a natural or adoptive parent of the minor, the minor may not thereafter disaffirm or avoid that vote. [PL […]
§727. Quorum and voting requirements for voting groups 1. Quorum. Shares entitled to vote as a separate voting group may take action on a matter at a meeting only if a quorum of those shares exists with respect to that matter. Unless the corporation’s articles of incorporation or this Act provides for a greater or […]
§728. Action by single and multiple voting groups 1. Voting by single voting group. If a corporation’s articles of incorporation or this Act provides for voting by a single voting group on a matter, action on that matter is taken when voted upon by that voting group as provided in section 727. [PL 2001, […]
§729. Greater quorum or voting requirements 1. Greater number may be required. A corporation’s articles of incorporation may provide for a greater quorum or voting requirement for shareholders or voting groups of shareholders than is provided for by this Act. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, […]
§730. Voting for directors; cumulative voting 1. Election by plurality. Unless otherwise provided in a corporation’s articles of incorporation, directors are elected by a plurality of the votes cast by the shares entitled to vote in the election at a meeting at which a quorum is present. [PL 2001, c. 640, Pt. A, §2 […]
§731. Inspectors of election 1. Appointment of inspector. A public corporation shall, and any other corporation may, appoint one or more inspectors to act at a meeting of shareholders in connection with determining voting results. Each inspector shall certify in writing that the inspector will faithfully execute the duties of inspector with strict impartiality and […]
§732. Judicial determination of corporate offices and review of elections and shareholder votes 1. Judicial determinations authorized. Upon application of or in a proceeding commenced by a person specified in subsection 2, the Superior Court of the county where a corporation’s principal office or, if none in this State, its registered office, is located may […]
