The shareholders of the corporation shall have the following powers of the corporation:
1. Those powers granted in chapter 490 which are not inconsistent with this division.
2. To elect the private directors as provided in this division.
3. To exercise other powers of the corporation as may be conferred on the shareholders by the bylaws.
As to all matters requiring action by the shareholders of the corporation, except as may be otherwise provided in this division, approval of the matters shall require the affirmative vote of a majority of the votes to which the shareholders present or represented at the meeting are entitled. Each shareholder shall have one vote, in person or by proxy, for each share of capital stock held by the shareholder.
88 Acts, ch 1207, §11
C89, § 28.141
C93, § 15E.141
Referred to in § 15.313
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