5760 - Voting by corporations.
§ 5760. Voting by corporations. (a) Voting in nonprofit corporation matters.--Unless otherwise provided in a bylaw of a nonprofit corporation adopted by the members, any other corporation which is a member of such a nonprofit corporation may vote therein by any of its officers, unless some other person, by resolution of the board of directors of such other corporation, or a provision of its articles or bylaws, a copy of which resolution or provision certified to be correct by one of its officers shall have been filed with the secretary of the nonprofit corporation, shall be appointed its general or special proxy, in which case such person shall be entitled to vote therein. (b) Voting by nonprofit corporations.--Shares of or memberships in a domestic or foreign corporation for profit or not-for-profit other than a nonprofit corporation, standing in the name of a shareholder or member which is a nonprofit corporation, may be voted by the persons and in the manner provided for in the case of nonprofit corporations by subsection (a) of this section unless the laws of the jurisdiction in which the issuer of any such shares or memberships is incorporated shall require the shares or memberships to be voted by some other person or persons or in some other manner, in which case to the extent that such laws are inconsistent herewith this subsection shall not apply. Cross References. Section 5760 is referred to in section 5504 of this title.