§ 23-1-30-6 — Voting group; quorum

Indiana § 23-1-30-6

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 30: Voting by Shareholders

Text

(a) 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 articles of
incorporation or this article provide otherwise, a majority of the votes
entitled to be cast on the matter by the voting group constitutes a
quorum of that voting group for action on that matter.
(b) Once a share is represented for any purpose at a meeting, it is
deemed present for quorum purposes for the remainder of the meeting
and for any adjournment of that meeting unless a new record date is or
must be set for that adjourned meeting.
(c) If a quorum exists, action on a matter (other than the election of
directors) by a voting group is approved if the votes cast within the
voting group favoring the action exceed the votes cast opposing the
action, unless the articles of incorporation or this article require a
greater number of affirmative votes.
(d) The election of directors is governed by section 9 of this chapter.

Legislative History

As added by P.L.149-1986, SEC.14.