Election of directors by certain classes of shareholders

7-108-104. Election of directors by certain classes of shareholders. If the articles of incorporation authorize dividing the shares of the corporation into classes or series, the articles of incorporation may authorize the election of all or a stated number or portion of directors by the holders of one or more authorized classes or series of shares. A class or series of shares entitled to elect one or more directors is a separate voting group for purposes of the election of directors. Source: L. 93: Entire article added, p. 779, � 1, effective July 1, 1994. L. 2003: Entire section amended, p. 2319, � 240, effective July 1, 2004.