Home/DC Code/§ 29-408.04
§ 29-408.04Title 29

Voting on amendments by voting groups.

Except as otherwise provided in the articles of incorporation or bylaws, if a nonprofit corporation has more than one class of members, the members of each class shall be entitled to vote as a separate voting group, if member voting is otherwise required by this chapter, on a proposed amendment to the articles of incorporation if the amendment would: Effect an exchange or reclassification of all or part of the memberships of the class into memberships of another class; Effect an exchange or reclassification, or create the right of exchange, of all or part of the memberships of another class into memberships of the class; Change the rights, preferences, or limitations of all or part of the memberships of the class in a manner different than the amendment would affect another class; Change the rights, preferences, or limitations of all or part of the memberships of the class by changing the rights, preferences, or limitations of another class; Increase or decrease the number of memberships authorized for that class; Increase the number of memberships authorized for another class; or Authorize a new class of memberships. If a class of members will be divided into 2 or more classes by an amendment to the articles of incorporation, the amendment shall be approved by a majority of the members of each class that will be created.

Annotations

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720
This section is referenced in § 29-407.03, § 29-408.07, § 29-408.22, and § 29-409.04.
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Sourced from the DC Council Open Law Library (public domain).

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