§ 23.9. Cumulative voting for directors.
Sections 1306(a)(8) and 1758(c)(1) of the BCL (relating to articles of incorporation; and voting rights of shareholders) authorize the articles of incorporation of a business corporation to set forth a statement eliminating the right of shareholders to cumulate their votes for the election of directors. The statement in the articles eliminating cumulative voting usually reads as follows:
The shareholders of the corporation shall not have the right to cumulate their votes for the election of directors of the corporation.
The provisions of this § 23.9 adopted April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993.
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