Voting trusts
In plain English: This section allows one or more members to create a voting trust, but only to the extent memberships can be transferred under section 10-3611 and unless the articles or bylaws provide otherwise. Members do this by signing an agreement setting out the trust's terms and transferring their memberships to one or more trustees, who then hold the right to vote or act for them. The agreement may include any lawful provision consistent with the trust's purposes.
10-3730. Voting trusts
If and to the extent a membership is transferable as provided in section 10-3611, and unless otherwise provided in the articles of incorporation or bylaws, one or more members may create a voting trust, conferring on one or more trustees the right to vote or otherwise act for them, by signing an agreement setting out the provisions of the trust and transferring their memberships to the trustee or trustees. The agreement may contain any lawful provision not inconsistent with the purposes of the trust.