A 3606
Updates law governing votes by shareholders for items other than for election of members to board of directors.
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- Passed General Assembly
- Passed Senate
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- Became Law
Bill overview
This bill modifies the law regarding how shareholders vote on matters other than electing board members. It clarifies that shareholder votes for these types of decisions can be authorized by a majority of votes cast at a meeting, unless the company’s charter or bylaws require a higher threshold. The bill also allows companies to specify that certain share classes vote as a single unit on these matters, supplementing individual shareholder votes.
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