2013 New York Consolidated Laws
LLC - Limited Liability Company Law
Article 4 - (401 - 420) MANAGEMENT BY MEMBERS OR MANAGERS
418 - Classes and voting of members.

 
    § 418. Classes and voting of members. (a) The articles of organization
  of  a  limited  liability  company  may provide for classes or groups of
  members having such relative rights, powers, preferences and limitations
  as the  operating  agreement  of  such  limited  liability  company  may
  provide.  The articles of organization may make provision for the future
  creation,  in  the  manner  provided  in  the  operating  agreement,  of
  additional  classes  of  members  having  such  relative rights, powers,
  preferences and limitations as may from  time  to  time  be  established
  pursuant   to   the   operating  agreement,  including  rights,  powers,
  preferences, limitations  and  duties  senior  to  existing  classes  of
  members.    The operating agreement may grant to or withhold from all or
  one or more classes of members the right to vote upon any matter on  the
  basis  of capital contributions, capital commitments or capital accounts
  or on a per capita, class or other basis.
    (b) The operating agreement  may  set  forth  provisions  relating  to
  notice  of the time, place or purpose of any meeting at which any matter
  is to be voted on by any members, waiver of any such notice,  action  by
  consent  without  a  meeting, the establishment of a record date, quorum
  requirements, voting in person or by proxy  or  any  other  matter  with
  respect to the exercise of any such right to vote.