D.C. Code § 29-408.04: Voting on amendments by voting groups.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 4. Nonprofit Corporations.
- Subchapter VIII. Amendment of Articles of Incorporation and Bylaws.
- Part A. Amendment of Articles of Incorporation.
(a)
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:
(1)
Effect an exchange or reclassification of all or part of the memberships of the class into memberships of another class;
(2)
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;
(3)
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;
(4)
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;
(5)
Increase or decrease the number of memberships authorized for that class;
(6)
Increase the number of memberships authorized for another class; or
(7)
Authorize a new class of memberships.
(b)
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.
Collected 2026-08-29T05:44:07Z. Source file · JSON