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§ 1220. Judges of election

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 7 P.S. Banks and Banking (Refs & Annos)
Banking Code of 1965 (Refs & Annos)
Chapter 12. Shares and Shareholders
7 P.S. § 1220
§ 1220. Judges of election
(a) A judge or three judges of election, and an alternate or alternates to act in the event of a vacancy, may be appointed:
(i) in advance of each meeting of shareholders by the board of directors, or
(ii) if the board of directors has not done so, at the meeting by the chairman of the meeting except that in such case, the holders of a majority of the shares present and entitled to vote shall determine whether one judge or three judges are to be appointed.
A judge of election need not be a shareholder and a candidate for office shall not act as a judge.
(b) The judge or judges of election shall perform his or their duties impartially, expeditiously and in good faith and shall:
(i) determine the number of shares outstanding and the number present at the meeting, the voting power of each and the existence of a quorum,
(ii) determine the authenticity, validity and effect of proxies,
(iii) receive votes or ballots, hear and determine all challenges in connection with the right to vote, count and tabulate the votes, and determine the result,
(iv) do whatever is appropriate to conduct the election or vote with fairness to all shareholders,
(v) act by majority vote, if there are three, and
(vi) upon the request of the chairman or any shareholder present at the meeting, make a written report of any matter determined by him or them and execute a certificate of any fact found by him or them. Any report or certificate made by the judge or judges of election shall be prima facie evidence of the facts stated therein.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 1220. Amended 1968, Nov. 27, P.L. 1104, No. 345, § 3.
7 P.S. § 1220, PA ST 7 P.S. § 1220
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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