2004 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 300 General Provisions
Section 300.24 Cumulative voting.
300.24 Cumulative voting.
The certificate of incorporation, or an amendment to it, of a corporation may provide that, at all elections of directors or managers, each stockholder or member is entitled to as many votes as equals the number of shares of stock owned multiplied by the number of directors or managers to be elected, and that the stockholder or members may cast all of these votes for a single director or manager, or may distribute them among the number to be voted for, or for any two or more of them. This right when exercised is termed "cumulative voting."
HIST: (7462) RL s 2862; 1984 c 628 art 5 s 1; 1986 c 444
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