Pennsylvania Statutes Title 7 P.S. Banks and Banking § 1213. Election of directors; cumulative voting

(a) Elections of directors need not be by ballot, except as otherwise provided in the by-laws or upon demand made by a shareholder at the election and before the voting begins.

(b) Except as provided in the article of incorporation, in each election of directors, every shareholder entitled to vote shall have the right, in person or by proxy, to multiply the number of votes to which he may be entitled by the total number of directors to be elected in the same election by the holders of the class or classes of shares of which his shares are a part, and he may cast the whole number of such votes for one candidate or he may distribute them among any two or more candidates. The candidates receiving the highest number of votes from each class or group of classes entitled to elect directors separately, up to the number of directors to be elected in the same election by such class or group of classes, shall be elected.