N.D. Cent. Code § 10-35-15
This is the official text of N.D. Cent. Code § 10-35-15, 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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10-35-15. Shareholder proposals of amendment of the articles
Official statutory text
10-35-15. Shareholder proposals of amendment of the articles
1. A proposal of an amendment of the articles of a publicly traded corporation by a
shareholder or shareholders under subsection 2 of section 10-19.1-19 need not
include more than:
a. The name of the shareholder or the names of the members of the group of
shareholders;
b. A statement of the number of shares of each class owned beneficially or of record
by the shareholder or group of shareholders and reasonable evidence of that
ownership; and
c. The text of the proposed amendment.
2. The articles or bylaws of a publicly traded corporation may not impose any
requirements on the proposal of an amendment of the articles by a shareholder.
3. An amendment proposed by a shareholder or shareholders pursuant to subsection 1
and approved by the shareholders does not need to be approved by the board to be
adopted and become effective.
1. A proposal of an amendment of the articles of a publicly traded corporation by a
shareholder or shareholders under subsection 2 of section 10-19.1-19 need not
include more than:
a. The name of the shareholder or the names of the members of the group of
shareholders;
b. A statement of the number of shares of each class owned beneficially or of record
by the shareholder or group of shareholders and reasonable evidence of that
ownership; and
c. The text of the proposed amendment.
2. The articles or bylaws of a publicly traded corporation may not impose any
requirements on the proposal of an amendment of the articles by a shareholder.
3. An amendment proposed by a shareholder or shareholders pursuant to subsection 1
and approved by the shareholders does not need to be approved by the board to be
adopted and become effective.
Status: in_force · Read it on the official government site
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