501A.808 - ACTION OF MEMBERS.

        501A.808  ACTION OF MEMBERS.         1.  Action by affirmative vote of members.         a.  The members shall take action by the affirmative vote of      the members of the greater of any of the following:         (1)  A majority of the voting power of the membership interests      present and entitled to vote on that item of business.         (2)  A majority of the voting power that would constitute a quorum      for the transaction of business at the meeting, except where this      chapter, the articles or bylaws, or a member control agreement      requires a larger proportion.         b.  If the articles, bylaws, or a member control agreement      require a larger proportion than is required by this chapter for a      particular action, the articles, bylaws, or the member control      agreement shall have control over the provisions of this chapter.         2.  Class or series of membership interests.  In any case      where a class or series of membership interests is entitled by this      chapter, the articles, bylaws, a member control agreement, or the      terms of the membership interests to vote as a class or series, the      matter being voted upon must also receive the affirmative vote of the      owners of the same proportion of the membership interests present of      that class or series; or of the total outstanding membership      interests of that class or series, as the proportion required under      subsection 1, unless the articles, bylaws, or the member control      agreement requires a larger proportion.  Unless otherwise stated in      the articles, bylaws, or a member control agreement, in the case of      voting as a class or series, the minimum percentage of the total      voting power of membership interests of the class or series that must      be present is equal to the minimum percentage of all membership      interests entitled to vote required to be present under section      501A.806.         3.  Greater quorum or voting requirements.         a.  The articles or bylaws adopted by the members may provide      for a greater quorum or voting requirement for members or voting      groups than is provided for by this chapter.         b.  An amendment to the articles or bylaws that adds, changes,      or deletes a greater quorum or voting requirement shall meet the same      quorum requirement and be adopted by the same vote and voting groups      required to take action under the quorum and voting requirements then      in effect or proposed to be adopted, whichever is greater.  
         Section History: Recent Form
         2005 Acts, ch 135, §58; 2006 Acts, ch 1030, §57