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Arkansas Code Title 4. Business and Commercial Law § 4-33-721. Votes per membership

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) Unless the articles or bylaws provide otherwise, each member is entitled to one (1) vote on each matter voted on by the members. When more than one (1) membership is held by a single entity, the member shall be entitled to one (1) vote for each such membership.

(b) Unless the articles or bylaws provide otherwise, if a membership stands of record in the names of two (2) or more persons, their acts with respect to voting shall have the following effect:

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

(2) if more than one (1) votes, the vote shall be divided on a prorata basis.

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Cite this article: FindLaw.com - Arkansas Code Title 4. Business and Commercial Law § 4-33-721. Votes per membership - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-4-business-and-commercial-law/ar-code-sect-4-33-721/

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