79-29-917 - Voting of membership interests. - Mississippi Statutes

§ 79-29-917. Voting of membership interests.
 

(1)  Only a qualified person may be appointed a proxy to vote the membership interest of a professional limited liability company. 

(2)  A voting trust with respect to membership interests of a professional limited liability company is not valid unless all of its trustees and beneficiaries are qualified persons. But if a beneficiary who is a qualified person dies or becomes disqualified, a voting trust valid under this subsection continues to be valid for ten (10) months after the date of death or for five (5) months after the disqualification occurred. 
 

Sources: Laws,  1995, ch. 494, § 51, eff from and after July 1, 1995.