504.708 - ACTION BY WRITTEN BALLOT. - Iowa Statutes

504.708 ACTION BY WRITTEN BALLOT. 1. Unless prohibited or limited by the articles or bylaws, any action which may be taken at any annual, regular, or special meeting of members may be taken without a meeting if the corporation delivers a written ballot to every member entitled to vote on the matter. 2. A written ballot shall do both of the following: a. Set forth each proposed action. b. Provide an opportunity to vote for or against each proposed action. 3. Approval by written ballot pursuant to this section shall be valid only when the number of votes cast by ballot equals or exceeds the quorum required to be present at a meeting authorizing the action, and the number of approvals equals or exceeds the number of votes that would be required to approve the matter at a meeting at which the total number of votes cast was the same as the number of votes cast by ballot. 4. All solicitations for votes by written ballot shall do all of the following: a. Indicate the number of responses needed to meet the quorum requirements. b. State the percentage of approvals necessary to approve each matter other than election of directors. c. Specify the time by which a ballot must be received by the corporation in order to be counted. 5. Except as otherwise provided in the articles or bylaws, a written ballot shall not be revoked. 6. Unless prohibited by the articles or bylaws, a written ballot may be delivered and a vote may be cast on that ballot by electronic transmission. An electronic transmission of a written ballot shall contain or be accompanied by information indicating that a member, a member's agent, or a member's attorney authorized the electronic transmission of the ballot.          Section History: Recent Form 2004 Acts, ch 1049, §62, 192