35-2-533. Action by written ballot. (1) Unless prohibited or limited by the articles or bylaws, any action that may be taken at any annual, regular, or special meeting of members may be taken without a meeting if the corporation delivers a written ballot to every member entitled to vote on the matter.
(2) A corporation may deliver a written ballot by electronic communication as long as a member gives consent. Consent by a member to receive notice by electronic communication in a certain manner constitutes consent to receive a ballot by electronic communication in the same manner.
(3) A written ballot must:
(a) set forth each proposed action; and
(b) provide an opportunity to vote for or against each proposed action.
(4) Approval by written ballot pursuant to this section is valid only when:
(a) the number of votes cast by ballot equals or exceeds the quorum required to be present at a meeting authorizing the action; and
(b) the number of approvals equals or exceeds the number of votes that would be required to approve the matter at a meeting at which the total number of votes cast was the same as the number of votes cast by ballot.
(5) All solicitations for votes by written ballot must:
(a) indicate the number of responses needed to meet the quorum requirements;
(b) state the percentage of approvals necessary to approve each matter other than election of directors; and
(c) specify the time by which a ballot must be received by the corporation in order to be counted.
(6) Except as otherwise provided in the articles or bylaws, a written ballot may not be revoked.
History: En. Sec. 65, Ch. 411, L. 1991; amd. Sec. 8, Ch. 190, L. 2013.