GEORGIA CODE (Last Updated: August 20, 2013) |
Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS |
Chapter 3. NONPROFIT CORPORATIONS |
Article 10. AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS |
Part 1. AMENDMENT OF ARTICLES OF INCORPORATION |
Section 14-3-1004. Voting on amendments by classes of members
Latest version.
- If the articles or bylaws provide for voting by classes of members, then unless the articles or bylaws provide otherwise:
(1) The members of a class are entitled to vote as a class on a proposed amendment to the articles if the amendment would change the rights of that class as to voting in a different manner than such amendment would affect another class or members of another class;
(2) If a class is to be divided into two or more classes as a result of an amendment to the articles, the amendment must be approved by the members of each class that would be created by the amendment; and
(3) If a class vote is required to approve an amendment to the articles, the amendment must be approved by the members of the class by two-thirds of the votes cast by the class or a majority of the voting power of the class, whichever is less.
Code 1981, § 14-3-1004, enacted by Ga. L. 1991, p. 465, § 1.