§ 17-16-730 — Voting trusts

(a) One (1) or more shareholders may create a voting
trust, conferring on a trustee the right to vote or otherwise
act for them, by signing an agreement setting out the provisions
of the trust, which may include anything consistent with its
purpose, and transferring their shares to the trustee. When a
voting trust agreement is signed, the trustee shall prepare a
list of the identities of all owners of beneficial interests in
the trust, together with the number and class of shares each
transferred to the trust. The list shall also show each
shareholder's physical mailing address, if the identity of a
shareholder on the list consists of the shareholder's name, and
each shareholder's authorized means of receipt for electronic
transmissions, if the identity of a shareholder on the list
consists of the shareholder's data address. Copies of the list
and agreement shall be delivered to the corporation's principal
office.
(b) A voting trust becomes effective on the date the first
shares subject to the trust are registered in the trustee's
name. A voting trust is valid for not more than ten (10) years
after its effective date unless extended under subsection (c) of
this section.
(c) All or some of the parties to a voting trust may
extend it for additional terms of not more than ten (10) years
each by signing written consent to the extension. An extension
is valid for ten (10) years from the date the first shareholder
signs the extension agreement. The voting trustee shall deliver
copies of the extension agreement and list of beneficial owners
to the corporation's principal office. An extension agreement
binds only those parties signing it.