271B.7 -250 Quorum and voting requirements for voting groups. (1) Shares entitled to vote as a separate voting group may take action on a matter at a meeting only if a quorum of those shares exists with respect to that matter. Unless the articles of incorporation or this chapter provide otherwise, a majority of the votes entitled to be cast on the matter by the voting group shall constitute a quorum of that voting group for action on that matter. (2) Once a share is represented for any purpose at a meeting, it shall be deemed present for quorum purposes for the remainder of the meeting and for any adjournment of that meeting, unless a new record date is or must be set for that adjourned meeting. (3) If a quorum exists, action on a matter (other than the election of directors) by a voting group shall be approved if the vote s cast within the voting group favoring the action exceed the votes cast opposing the action, unless the articles of incorporation or this chapter require a greater number of affirmative votes. (4) An amendment of articles of incorporation adding, changing , or deleting a quorum or voting requirement for a voting group greater than specified in subsection (1) or number of affirmative votes. (4) An amendment of articles of incorporation adding, changing , or deleting a quorum or voting requirement for a voting group greater than specified in subsection (1) or (3) of this section shall be governed by KRS 271B.7 -270. (5) The election of directors shall be governed by KRS 271B.7 -280. Effective: January 1, 19 89 History: Created 1988 Ky. Acts ch. 23, sec. 61, effective January 1, 1989.
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