§ 7-1.2-702 - Notice to shareholders.
SECTION 7-1.2-702
§ 7-1.2-702 Notice to shareholders. –(a) Any notice to shareholders given by the corporation under any provision ofthis chapter, the articles of incorporation or the bylaws is effective if givenin writing, or by facsimile or a form of electronic transmission consented toby the shareholder to whom the notice is given. Any consent to alternativenotice is revocable by the shareholder by written notice to the corporation.Any consent to alternative notice is deemed revoked if:
(1) The corporation is unable to deliver by facsimile orelectronic transmission two (2) consecutive notices given by the corporation inaccordance with such consent; and
(2) Such inability becomes known to the secretary or anassistant secretary of the corporation or to the transfer agent, or otherperson responsible for the giving of notice; provided, however, the inadvertentfailure to treat such inability as a revocation does not invalidate the action.
(b) If mailed, the notice is deemed to be delivered whendeposited in the United States mail addressed to the shareholder at his or heraddress as it appears on the stock transfer books of the corporation, withprepaid postage on the mail.
(c) In the case of any corporation which has fifty (50) ormore shareholders of record, if two (2) successive notices, reports or othercommunications addressed to a shareholder of the corporation at the address ofthe shareholder appearing on the books of the corporation have been returned tothe corporation by the United States postal service marked to indicate that theUnited States postal service is unable to deliver the notices, reports or othercommunications to the shareholder at the address, all future notices, reportsor other communications are deemed to have been given without further mailingif they are available for the shareholder upon written demand of theshareholder at the principal executive office of the corporation for a periodof one year from the date of the giving of the notice, report, or othercommunication to other shareholders.
(d) A shareholder may waive any notice required by thissection, the articles of incorporation, or bylaws before or after the date andtime stated in the notice. The waiver must be in writing, be signed by theshareholder entitled to the notice, and be delivered to the corporation forinclusion in the minutes or filing with the corporate records.