(a)A shareholder may vote the shareholder's
shares in person or by proxy.
(b)A shareholder may appoint a proxy to vote or otherwise act for
the shareholder by signing an appointment form, either personally or
by the shareholder's attorney-in-fact.
(c)An appointment of a proxy is effective when received by the
secretary or other officer or agent authorized to tabulate votes. An
appointment is valid for eleven (11) months unless a shorter or longer
period is expressly provided in the appointment form.
(d)An appointment of a proxy is revocable by the shareholder
unless the appointment form conspicuously states that the appointment
form is irrevocable and the appointment is coupled with an interest.
Appointments coupled with an interest include the appointment of the
following:
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(a) A shareholder may vote the shareholder's
shares in person or by proxy.
(b) A shareholder may appoint a proxy to vote or otherwise act for
the shareholder by signing an appointment form, either personally or
by the shareholder's attorney-in-fact.
(c) An appointment of a proxy is effective when received by the
secretary or other officer or agent authorized to tabulate votes. An
appointment is valid for eleven (11) months unless a shorter or longer
period is expressly provided in the appointment form.
(d) An appointment of a proxy is revocable by the shareholder
unless the appointment form conspicuously states that the appointment
form is irrevocable and the appointment is coupled with an interest.
Appointments coupled with an interest include the appointment of the
following:
(1) A pledgee.
(2) A person who purchased or agreed to purchase the shares.
(3) A creditor of the corporation who extended the corporation
credit under terms requiring the appointment.
(4) An employee of the corporation whose employment contract
requires the appointment.
(5) A party to a voting agreement created under IC 28-13-7-2.
(e) The death or incapacity of the shareholder appointing a proxy
does not affect the right of the corporation to accept the proxy's
authority unless notice of the death or incapacity is received by the
secretary or other officer or agent authorized to tabulate votes before
the proxy exercises the proxy's authority under the appointment.
(f) An appointment made irrevocable under subsection (d) is
revoked when the interest with which it is coupled is extinguished.
(g) A transferee for value of shares subject to an irrevocable
appointment may revoke the appointment if:
(1) the transferee did not know of the appointment's existence
when the transferee acquired the shares; and
(2) the existence of the irrevocable appointment was not noted
conspicuously on the certificate representing the shares or on the
information statement for shares without certificates.
(h) Subject to section 5 of this chapter and to any express limitation
on the proxy's authority appearing on the face of the appointment form,
a corporation is entitled to accept the proxy's vote or other action as
that of the shareholder making the appointment.