504.712 Voting entitlement generally.
1. Except as provided in the articles of incorporation or bylaws, each member shall be entitled to one vote on each matter submitted to a vote of members.
2. Unless the articles or bylaws provide otherwise, if a membership stands of record in the names of two or more persons, the persons’ acts with respect to voting shall have the following effect:
a. If only one votes, such act binds all.
b. If more than one votes, the vote shall be divided on a pro rata basis.
2004 Acts, ch 1049, §64, 192; 2015 Acts, ch 45, §6