16-6a-1004. Voting on amendments
of articles of incorporation by voting groups.
(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.
Enacted by Chapter 300, 2000 General Session