§ 55A-7-21. Voting entitlement generally. - North Carolina Statutes

§55A‑7‑21.  Voting entitlement generally.

(a)        Unless the articlesof incorporation or bylaws provide otherwise, each member is entitled to onevote on each matter voted on by the members.

(b)        Unless the articlesof incorporation or bylaws provide otherwise, if a membership stands of recordin the names of two or more persons, their acts with respect to voting shallhave the following effect:

(1)        If only one votes,such act binds all; and

(2)        If more than onevotes, the vote shall be divided on a pro rata basis.

(c)        An amendment to thearticles of incorporation or bylaws on which members are entitled to vote, thepurpose of which is to increase or decrease the number of votes any member isentitled to cast on any member action, shall be approved by the membersentitled to vote on that action by a vote that would be sufficient to take theaction before the amendment. (1955, c. 1230; 1985 (Reg.Sess., 1986), c. 801, s. 35; 1993, c. 398, s. 1; 1995, c. 400, s. 2.)