Election of directors by certain classes of shareholders

  1. Law
  2. Maine Revised Statutes
  3. MAINE BUSINESS CORPORATION ACT
  4. DIRECTORS AND OFFICERS
  5. BOARD OF DIRECTORS
  6. Election of directors by certain classes of shareholders

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§804. Election of directors by certain classes of shareholders

If the corporation's articles of incorporation authorize dividing the shares into classes, the articles may also authorize the election of all or a specified number of directors by the holders of one or more authorized classes of shares. Each class of shares entitled to elect one or more directors is a separate voting group for purposes of the election of directors.   [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]

SECTION HISTORY

PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF).


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