AZ LAW BOOK

4. An employee of the corporation whose employment contract requires the appointment. 5. A party to a voting agreement created pursuant to section 10-3731. E. The death or incapacity of the member who appoints a proxy does not affect the right of the corporation to accept the proxy's authority unless the secretary or other officer or agent authorized to tabulate votes receives written notice of the death or incapacity before the proxy exercises authority under the appointment. F. Appointment of a proxy is revoked by the person who appoints the proxy by either: 1. Attending any meeting and voting in person. 2. Signing and delivering to the secretary or other officer or agent authorized to tabulate proxy votes either a writing stating that the appointment of the proxy is revoked or a subsequent appointment form. G. An appointment made irrevocable under subsection D of this section is revoked if the interest with which it is coupled is extinguished. H. A transferee for value of a membership interest subject to an irrevocable appointment may revoke the appointment if the transferee did not know of its existence at the time that the transferee acquired the membership interest and the existence of the irrevocable appointment was not noted conspicuously on the transfer documents. I. Subject to section 10-3727 and to any express limitation on the proxy's authority that appears on the face of the appointment form, a corporation may accept the proxy's vote or other action as that of the member making the appointment. 10-3725. Cumulative voting for directors A. If the articles of incorporation or bylaws provide for cumulative voting by members, members may cumulate their votes for directors, by multiplying the number of votes the members are entitled to cast by the number of directors for whom they are entitled to vote and casting the product for a single candidate or by distributing the product among two or more candidates. B. Cumulative voting is not authorized at a particular meeting unless either: 1. The meeting notice or statement accompanying the notice states conspicuously that cumulative voting is authorized. 2. A member who has the right to cumulate votes gives notice during the meeting and before the vote is taken of the member's intent to cumulate votes during the meeting, and if one member gives this notice all other members in the same voting group participating in the election are entitled to cumulate their votes without giving further notice. C. A director elected by cumulative voting may be removed by the members without cause if the requirements of section 10-3808 are met unless the votes cast against removal, or those members not consenting in writing or by ballot to the removal, would be sufficient to elect that director if voted cumulatively at an election at which the same total number of votes were cast or, if the action is taken by written consent or ballot, all memberships entitled to vote were voted and the entire number of directors authorized at the time of the director's most recent election were then being elected. 10-3726. Other methods of electing directors A corporation may provide in its articles of incorporation or bylaws the process for election of directors by members or delegates by any of the following means: 1. On the basis of chapter or other organizational unit. 2. By region or other geographic unit. 3. By preferential voting. 4. By any other reasonable method. 10-3727. Corporation’s acceptance of votes A. If the name signed on a vote, consent, waiver or proxy appointment corresponds to the name of a member, the corporation if acting in good faith is entitled to accept the vote, consent, waiver or proxy appointment and give it effect as the act of the member. B. If the name signed on a vote, consent, waiver or proxy appointment does not correspond to the record name of a member, the corporation if acting in good faith is entitled to accept the vote, consent, waiver or proxy appointment and give it effect as the act of the member if:

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Law Book Revised 11.02.2017