§ 55-7-07. Record date. - North Carolina Statutes

§55‑7‑07.  Record date.

(a)        The bylaws may fixor provide the manner of fixing the record date for one or more voting groupsin order to determine the shareholders entitled to notice of a shareholders'meeting, to demand a special meeting, to vote, or to take any other action.  Ifthe bylaws do not fix or provide for fixing a record date, the board ofdirectors of the corporation may fix a future date as the record date.

(b)        A record date fixedunder this section may not be more than 70 days before the meeting or actionrequiring a determination of shareholders.

(c)        A determination ofshareholders entitled to notice of or to vote at a shareholders' meeting iseffective for any adjournment of the meeting unless the board of directorsfixes a new record date, which it must do if the meeting is adjourned to a datemore than 120 days after the date fixed for the original meeting.

(d)        If a court orders ameeting adjourned to a date more than 120 days after the date fixed for theoriginal meeting, it may provide that the original record date continues ineffect or it may fix a new record date. (1955, c. 1371, s. 1; 1973,c. 469, s. 45.1; 1989, c. 265, s. 1.)