N.D. Cent. Code § 10-35-11
This is the official text of N.D. Cent. Code § 10-35-11, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-35-11. Supermajority provisions prohibited
Official statutory text
10-35-11. Supermajority provisions prohibited
Neither the articles nor the bylaws of a publicly traded corporation may provide a quorum or
voting requirement:
1. For the board or a committee of the board that is greater than a majority of the
number of directors that would constitute the full board or committee assuming there
are no vacancies; or
2. For shareholders that is greater than a majority of the voting power of the shares
entitled to vote on the item of business or, in the case of a class or series entitled to
vote as a separate group, a majority of the voting power of the outstanding shares of
the class or series.
Neither the articles nor the bylaws of a publicly traded corporation may provide a quorum or
voting requirement:
1. For the board or a committee of the board that is greater than a majority of the
number of directors that would constitute the full board or committee assuming there
are no vacancies; or
2. For shareholders that is greater than a majority of the voting power of the shares
entitled to vote on the item of business or, in the case of a class or series entitled to
vote as a separate group, a majority of the voting power of the outstanding shares of
the class or series.
Status: in_force · Read it on the official government site
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