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Voting Trusts 71. (1) Any shareholder, under an agreement in writing, may
transfer his shares to a voting trustee for the purpose of
conferring the right to vote thereon for a period not
exceeding ten years upon the terms and conditions stated
therein. The certificates for shares so transferred shall be
surrendered and cancelled and new certificates therefor
issued to such trustee stating that they are issued under such
agreement, and in the entry of such ownership in the record
of the corporation that fact shall also be noted, and such
trustee may vote the shares so transferred during the term
of such agreement. At the termination of the agreement, the
shares surrendered shall be reissued to the owner in
accordance with the terms of the trust agreement.
(2) The trustee shall keep available for inspection by
holders of voting trust certificates at his office or at a place
designated in such agreement or of which the holders of
voting trust certificates have been notified in writing,
correct and complete books and records of account relating
to the trust, and a record containing the names and
addresses of all persons who are holders of voting trust
certificates and the number and class of shares represented
by the certificates held by them and the dates when they
became the owners thereof. The record may be in written
form or any other form capable of being converted into
written form within a reasonable time.
(3) A duplicate of every such agreement shall be filed in
the office of the corporation and it and the record of voting
trust certificate holders shall be subject to the same right of
inspection by a shareholder of record or a holder of a
voting trust certificate, in person or by agent or attorney, as
are the records of the corporation under Part VII of this
Ordinance. The shareholder or holder of a voting trust
certificate shall be entitled to the remedies.provided in Part
VIII of this Ordinance.
(4) At any time within six months before the expiration of
such voting trust agreement as originally fixed or as
extended one or more times under this section, one or more
holders of voting trust certificates may, by agreement in
writing, extend the duration of such voting trust agreement,
nominating the same or a substitute trustee, for an
additional period not exceeding ten years. Such extension
agreement shall not affect the rights or obligations of
persons not parties thereto and shall in every respect
comply with and be subject to all provisions of this Part
applicable to the original voting trust agreement.