§ 17-16-721 — Voting entitlement of shares

(a) Except as provided in subsections (b) and (d) of this
section or unless the articles of incorporation provide
otherwise, each outstanding share, regardless of class, is
entitled to one (1) vote on each matter voted on at a
shareholders' meeting. Only shares are entitled to vote.
(b) Unless authorized by a district court, the shares of a
corporation are not entitled to vote if they are owned, directly
or indirectly, by a second corporation, domestic or foreign, and
the first corporation owns, directly or indirectly, a majority
of the shares entitled to vote for directors of the second
corporation.
(c) Subsection (b) of this section does not limit the
power of a corporation to vote any shares, including its own
shares, held by it in a fiduciary capacity.
(d) Redeemable shares are not entitled to vote after
notice of redemption is mailed to the holders and a sum
sufficient to redeem the shares has been deposited with a bank,
trust company, or other financial institution under an
irrevocable obligation to pay the holders the redemption price
on surrender of the shares.