Sec. 7. (a) If the articles of incorporation or this article provide for voting by a single voting group on a matter, action on that matter is taken when voted upon by that voting group as provided in section 6 of this chapter.
(b) If the articles of incorporation or this article provide for voting by two (2) or more voting groups on a matter, action on that matter is taken only when voted upon by each of those voting groups counted separately as provided in section 6 of this chapter. A matter may be voted on by one (1) voting group even though no vote is taken by another voting group entitled to vote on the matter.
As added by P.L.149-1986, SEC.14.
Structure Indiana Code
Title 23. Business and Other Associations
Article 1. Indiana Business Corporation Law
Chapter 30. Voting by Shareholders
23-1-30-2. Shares Entitled to Vote
23-1-30-3. Voting of Shares; Appointment of Proxy
23-1-30-4. Beneficial Owners of Shares; Recognition Procedure; Disclosure Procedure
23-1-30-5. Acceptance of Signature
23-1-30-6. Voting Group; Quorum
23-1-30-7. Voting Groups; Method of Taking Action
23-1-30-8. Special Voting Requirements in Articles of Incorporation