§ 17-16-707 — Record date

(a) The bylaws may fix or provide the manner of fixing the
record date for one (1) or more voting groups in order to
determine the shareholders entitled to notice of a shareholders'
meeting, to demand a special meeting, to vote, or to take any
other action. If the bylaws do not fix or provide for fixing a
record date, the board of directors of the corporation may fix a
future date as the record date.
(b) A record date fixed under this section may not be more
than seventy (70) days before the meeting or action requiring a
determination of shareholders.
(c) A determination of shareholders entitled to notice of
or to vote at a shareholders' meeting is effective for any
adjournment of the meeting unless the board of directors fixes a
new record date, which it shall do if the meeting is adjourned
to a date more than one hundred twenty (120) days after the date
fixed for the original meeting.
(d) If a court orders a meeting adjourned to a date more
than one hundred twenty (120) days after the date fixed for the
original meeting, it may provide that the original record date
continues in effect or it may fix a new record date.