16-10a-707 - Record date.
16-10a-707. Record date.
(1) The bylaws may fix or provide the manner of fixing the record date for one or morevoting groups in order to determine the shareholders entitled to be given notice of a shareholders'meeting, to determine shareholders entitled to take action without a meeting, to demand a specialmeeting, to vote, or to take any other action. If the bylaws do not fix or provide for the mannerof fixing a record date, the board of directors of the corporation may fix a future date as therecord date.
(2) If not otherwise fixed under Section 16-10a-703 or Subsection (1), the record date fordetermining shareholders entitled to notice of and to vote at an annual or special shareholders'meeting is the close of business on the day before the first notice is delivered to shareholders.
(3) A record date fixed under this section may not be more than 70 days before themeeting or action requiring a determination of shareholders.
(4) A determination of shareholders entitled to notice of or to vote at a shareholders'meeting is effective for any adjournment of the meeting unless the board of directors fixes a newrecord date, which it shall do if the meeting is adjourned to a date more than 120 days after thedate fixed for the original meeting.
(5) If a court orders a meeting adjourned to a date more than 120 days after the date fixedfor the original meeting, it may provide that the original record date continues in effect or it mayfix a new record date.
Amended by Chapter 378, 2010 General Session