The number of votes that each member may cast is determined by the following guidelines.
1.
The number of votes a member may cast is based on the amount of capital stock the member was required to hold as of the previous year end;
2.
The number of votes that any member may cast for any one directorship may not exceed the average amount of stock required to be held by member institutions in the state as of the previous year end;
3.
A member may not split its votes among multiple nominees for a single directorship, nor, where there are multiple directorships to be filled, may a member cumulatively vote for a single nominee.
