Voting entitlement generally

7-127-202. Voting entitlement generally. (1) Unless otherwise provided by the bylaws: (a) Only voting members shall be entitled to vote with respect to any matter required or permitted under articles 121 to 137 of this title to be submitted to a vote of the members; (b) All references in articles 121 to 137 of this title to votes of or voting by the members shall be deemed to permit voting only by the voting members; and (c) Voting members shall be entitled to vote with respect to all matters required or permitted under articles 121 to 137 of this title to be submitted to a vote of the members. (2) Unless otherwise provided by the bylaws, each member entitled to vote shall be entitled to one vote on each matter submitted to a vote of members. (3) Unless otherwise provided by the bylaws, if a membership stands of record in the names of two or more persons, their acts with respect to voting shall have the following effect: (a) If only one votes, such act binds all; and (b) If more than one votes, the vote shall be divided on a pro rata basis. Source: L. 97: Entire article added, p. 683, � 3, effective July 1, 1998.