A corporation is permitted to adopt, in its certificate of incorporation, a supermajority rule (i.e., requiring greater than a simple majority of the proportional shareholder ownership) for the establishment of a quorum and/or the conduct of any vote in transacting corporate business (Business Corporation Law § 616 [a]). Any alteration of the certificate of incorporation to change or remove such a provision in the certificate of incorporation requires shareholder approval...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.