§ 12:1-728 — Quorum and voting for directors; cumulative voting

Louisiana § 12:1-728

• Jurisdiction: Louisiana
• Title 12: Conservation of Cultural Resources

Text

§1-728. Quorum and voting for directors; cumulative voting
A. Unless otherwise provided in the 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. If a quorum is not present at an annual meeting or at a special
meeting called for the election of directors, the shareholders present at the meeting in person
or by proxy may, by a majority of the votes cast on the matter, adjourn the meeting to the
next day, at the place and time specified in the approved motion to adjourn. The
shareholders present in person or by proxy at the meeting to which the earlier meeting is
adjourned shall constitute a quorum for the purpose of electing directors, even if a quorum
would not otherwise be present.
B. Shareholders do not have a right to cumulate their votes for directors unless the
articles of incorporation so provide.
C. A statement included in the articles of incorporation that shareholders, or a
designated group of shareholders, "are entitled to cumulate their votes for directors", or
words of similar import, means that the shareholders designated are entitled to multiply the
number of votes they are entitled to cast by the number of directors for whom they are
entitled to vote and cast the product for a single candidate or distribute the product among
two or more candidates.

Legislative History

Acts 2014, No. 328, §1, eff. Jan. 1, 2015; Acts 2017, No. 57, §1.