Section 604. Fixing record date

(a) For the purpose of determining the shareholders entitled to notice
  of or to vote at any meeting of shareholders or any adjournment thereof,
  or to express consent to or dissent from any proposal without a meeting,
  or  for  the  purpose  of  determining  shareholders entitled to receive
  payment of any dividend or the allotment  of  any  rights,  or  for  the
  purpose  of  any other action, the by-laws may provide for fixing or, in
  the absence of such provision, the board may fix, in advance, a date  as
  the  record  date  for any such determination of shareholders. Such date
  shall not be more than sixty nor less than ten days before the  date  of
  such meeting, nor more than sixty days prior to any other action.
    (b) If no record date is fixed:
    (1) The  record date for the determination of shareholders entitled to
  notice of or to vote at a meeting of shareholders shall be at the  close
  of  business on the day next preceding the day on which notice is given,
  or, if no notice is given, the day on which the meeting is held.
    (2) The record date for determining shareholders for any purpose other
  than that specified in  subparagraph  (1)  shall  be  at  the  close  of
  business  on  the  day  on  which  the  resolution of the board relating
  thereto is adopted.
    (c) When a determination of shareholders of record entitled to  notice
  of  or  to vote at any meeting of shareholders has been made as provided
  in this section, such  determination  shall  apply  to  any  adjournment
  thereof, unless the board fixes a new record date under this section for
  the adjourned meeting.