Current with effective legislation from the 2021 Legislative Session
Section 12:1-727 - Greater quorum or voting requirementsA. The articles of incorporation may provide for a greater voting requirement for shareholders, or voting groups of shareholders, than is provided for by this Chapter. The articles of incorporation may make a quorum requirement for shareholders, or for a voting group of shareholders, greater or lesser than that provided by this Chapter, but the requirement may not be lower than shares having twenty-five percent of the votes entitled to be cast on a matter. B. An amendment to the articles of incorporation that adds, changes, or deletes a quorum or voting requirement must meet the same quorum requirement and be adopted by the same vote and voting groups required to take action under the quorum and voting requirements then in effect or proposed to be adopted, whichever is greater.Amended by Acts 2017, No. 57,s. 1, eff. 8/1/2017.Amended by Acts 2016, No. 442,s. 1, eff. 8/1/2016.Added by Acts 2014, No. 328,s. 1, eff. 1/1/2015.