Voting or consent by beneficial owners.

On any matter that is to be acted on by beneficial owners, the following rules apply: The beneficial owners shall act by majority of the beneficial interests. The beneficial owners may take the action without a meeting, without notice, and without a vote, if beneficial owners having at least the minimum number of votes necessary to authorize or take the action at a meeting at which all beneficial owners entitled to vote thereon were present and voted consent in a signed record. However, prompt notice of the action shall be given to those beneficial owners that did not consent. A beneficial owner may vote in person or by proxy, but if by proxy, the proxy shall be contained in a signed record.