Section 54. Right to Vote of Secures Creditors and Administrators - Revised Corporation Code

Section 54. Right to Vote of Secures Creditors and Administrators. - In case a stockholder grants security interest in his or her shares in stock corporations, the stockholder-grantor shall have the right to attend and vote at meetings of stockholders, unless the secured creditor is expressly given by the stockholder-grantor such right in writing which is recorded in the appropriate corporate books.

Executors, administrators, receivers, and other legal representatives duly appointed by the court may attend and vote on behalf of the stockholders or members without need of any written proxy.