Section 10-2B-7.26 Action by single and multiple voting groups. - Alabama Statutes

Section 10-2B-7.26

Action by single and multiple voting groups.

(a) If the articles of incorporation or this chapter provide for voting by a single voting group on a matter, action on that matter is taken when voted upon by that voting group as provided in Section 10-2B-7.25.

(b) If the articles of incorporation or this chapter provide for voting by two or more voting groups on a matter, action on that matter is taken only when voted upon by each of those voting groups counted separately as provided in Section 10-2B-7.25. Action may be taken by one voting group on a matter even though no action is taken by another group entitled to vote on the matter.

(Acts 1994, No. 94-245, p. 343, §1.)