Kentucky Statutes 271B.7-260 – Action by single and multiple voting groups
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(1) If the articles of incorporation or this chapter provide for voting by a single voting group on a matter, action on that matter shall be taken when voted upon by that voting group as provided in KRS § 271B.7-250.
(2) If the articles of incorporation or this chapter provide for voting by two (2) or more voting groups on a matter, action on that matter shall be taken only when voted upon by each of those voting groups counted separately as provided in KRS
271B.7-250. Action may be taken by one (1) voting group on a matter even though no action is taken by another voting group entitled to vote on the matter.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 62, effective January 1, 1989.
(2) If the articles of incorporation or this chapter provide for voting by two (2) or more voting groups on a matter, action on that matter shall be taken only when voted upon by each of those voting groups counted separately as provided in KRS
Terms Used In Kentucky Statutes 271B.7-260
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Articles of incorporation: include amended and restated articles of incorporation and articles of merger. See Kentucky Statutes 271B.1-400
- Voting group: means all shares of one (1) or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Kentucky Statutes 271B.1-400
271B.7-250. Action may be taken by one (1) voting group on a matter even though no action is taken by another voting group entitled to vote on the matter.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 62, effective January 1, 1989.