Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Restriction on voting rights where members have unpaid calls or company lien, with poll voting flexibility for multiple votes. A company's articles may restrict voting rights where a member has unpaid calls or other sums due on registered shares, or where the company has exercised a lien on those shares. Except for those grounds, a company may not prohibit a member from voting. On a poll, a member with multiple votes, or their permitted proxy or other voting representative, need not use all votes or cast them uniformly.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Restriction on voting rights where members have unpaid calls or company lien, with poll voting flexibility for multiple votes.
A company's articles may restrict voting rights where a member has unpaid calls or other sums due on registered shares, or where the company has exercised a lien on those shares. Except for those grounds, a company may not prohibit a member from voting. On a poll, a member with multiple votes, or their permitted proxy or other voting representative, need not use all votes or cast them uniformly.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.