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Utah Code Title 16. Corporations § 16-6a-1004. Voting on amendments of articles of incorporation by voting groups

Current as of May 05, 2022 | Updated by FindLaw Staff

(1) Unless otherwise provided by this chapter or the articles of incorporation, if membership voting is otherwise required by this chapter, the members of a class who are entitled to vote are entitled to vote as a separate voting group on an amendment to the articles of incorporation if the amendment would:

(a) affect the rights, privileges, preferences, restrictions, or conditions of that class as to voting, dissolution, redemption, or transfer of memberships in a manner different than the amendment would affect another class;

(b) change the rights, privileges, preferences, restrictions, or conditions of that class as to voting, dissolution, redemption, or transfer by changing the rights, privileges, preferences, restrictions, or conditions of another class;

(c) increase or decrease the number of memberships authorized for that class;

(d) increase the number of memberships authorized for another class;

(e) effect an exchange, reclassification, or termination of the memberships of that class;  or

(f) authorize a new class of memberships.

(2) If a class is to be divided into two or more classes as a result of an amendment to the articles of incorporation, the amendment shall be approved by the members of each class that would be created by the amendment.

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Cite this article: FindLaw.com - Utah Code Title 16. Corporations § 16-6a-1004. Voting on amendments of articles of incorporation by voting groups - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-16-corporations/ut-code-sect-16-6a-1004/

Read this complete Utah Code Title 16. Corporations § 16-6a-1004. Voting on amendments of articles of incorporation by voting groups on Westlaw

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