Election of Directors by Certain Classes of Shareholders

Election of Directors by Certain Classes of Shareholders. If the 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. A class (or classes) of shares entitled to elect one or more directors is a separate voting group for purposes of the election of directors. Source: PL 10-7, § 1 (Bus. Corp. Reg. § 8.04).