501A.809 - ACTION WITHOUT A MEETING.

        501A.809  ACTION WITHOUT A MEETING.         1.  Method.  An action required or permitted to be taken at a      meeting of the members may be taken by written action signed, or      consented to by authenticated electronic communication, by all of the      members.  If the articles, bylaws, or a member control agreement so      provide, any action may be taken by written action signed, or      consented to by authenticated electronic communication, by the      members who own voting power equal to the voting power that would be      required to take the same action at a meeting of the members at which      all members were present.         2.  Effective time.  The written action is effective when      signed or consented to by authenticated electronic communication by      the required members, unless a different effective time is provided      in the written action.         3.  Notice and liability.  When written action is permitted to      be taken by less than all members, all members must be notified      immediately of its text and effective date.  Failure to provide the      notice does not invalidate the written action.  A member who does not      sign or consent to the written action has no liability for the action      or actions taken by the written action.  
         Section History: Recent Form
         2005 Acts, ch 135, §59