Delaware § 5002 - Voting rights of members and selection of governing body.
Full text of Delaware Delaware Code § 5002 — Voting rights of members and selection of governing body., with citation guidance and answers to common questions.
§ 5002. Voting rights of members and selection of governing body.
Notwithstanding any other provision of the laws of this State contained in Title 8 or elsewhere:
(1) Unless otherwise provided in the certificate of incorporation of a payment network, or, if the certificate of incorporation so provides, in its bylaws, each member shall be entitled at every meeting of members to 1 vote in person or by proxy;
(2) The election, appointment or designation of the members of the governing body of a payment network, including the voting rights of members and rights of persons other than members with respect to election, appointment or designation of the members of the governing body, shall be as provided in its bylaws, its certificate of incorporation, or both; and
(3) Any member action or corporate action with respect to the election, appointment or designation of the members of the governing body of a payment network from and after its date of incorporation taken pursuant to the provisions of its bylaws, its certificate of incorporation, or both, shall be deemed as having been taken under and shall be governed by this section.
75 Del. Laws, c. 233, § 1;Source: official Delaware text · Last verified 2026-08-27
Frequently Asked Questions About Delaware § 5002
What does Delaware Code § 5002 cover?
Section 5002 ("Voting rights of members and selection of governing body.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 5002?
A common citation format is "Delaware Code § 5002" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 5002 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.