§ 6:1185 — Voting

Louisiana § 6:1185

• Jurisdiction: Louisiana
• Title 6: Banks and Banking

Text

§1185. Voting
A. Voting at a meeting may be either in person, by means of remote communication
in accordance with R.S. 12:1-709, or by proxy executed in writing by the member or
stockholder or by his duly authorized attorney-in-fact.
B. In the determination of all questions requiring ascertainment as to who is entitled
to vote and of the number of outstanding shares, the following rules shall apply:
(1) The date of determination shall be the record date for voting provided in this
Chapter.
(2) Except as otherwise provided for in the articles of incorporation or bylaws, each
person holding one or more withdrawable accounts in a mutual savings bank shall have the
vote of one share for each one hundred dollars of the aggregate withdrawal value of such
accounts and shall have the vote of one share for any fraction of one hundred dollars held in
each of such accounts based upon the average daily deposits in said account for the thirty
days prior to the record date. However, no member shall cast more than five hundred votes.
(3) Each holder of capital stock held shall have one vote for each share held.
(4) Shares owned by the savings bank shall not be counted or voted.
(5) A savings bank authorized to issue stock shall provide in its articles of
incorporation that voting rights may be vested exclusively in stockholders.

Legislative History

Acts 1990, No. 816, §1, eff. Sept. 1, 1990; Acts 2007, No. 15, §1, eff. June 18, 2007; Acts 2021, No. 23, §1, eff. June 1, 2021.