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Preferred Apartment adopts plurality standard for uncontested director elections

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Preferred Apartment adopts plurality standard for uncontested director elections

Multifamily real estate investment trust Preferred Apartment Communities Inc. amended its bylaws to adopt a plurality standard for the election of directors in uncontested elections.

As a result, a majority of the votes cast for and against each director is required for election. In contested elections, a plurality of votes remains the standard for elections.