15A:5-12 - Greater or lesser voting requirements - New Jersey Statutes

15A:5-12.  Greater or lesser voting requirements
    a.  Whenever any action is to be authorized by the members of a corporation  and the certificate of incorporation or the bylaws require the affirmative vote  of a greater proportion of the votes cast by the members entitled to vote  thereon, or by the members of any class or series thereof than is required by  this act with respect to the action, the provisions of the certificate of  incorporation or bylaws shall control.

    b.  Whenever any action is to be authorized by two-thirds of the votes cast  by members of a corporation pursuant to this act, and the certificate of incorporation provides for the affirmative vote of a lesser proportion of the votes cast by the members entitled to vote thereon, or by the members of any class of members, but not less than a majority thereof than is required by this  act with respect to the action, the provisions of the certificate of incorporation shall control.  Any provision for lesser voting requirements may be set forth in the bylaws, and the requirements shall control, if the certificate of incorporation provides that the lesser voting requirements may be set forth in the bylaws.

    c.  An amendment of the certificate of incorporation or bylaws which changes  or deletes greater or lesser voting provisions shall be authorized by the same  vote as would be required to take action under that provision.

    d.  Any action required to be authorized by a vote of the members greater than a majority shall be rescinded or modified only by a like vote.

     L.1983, c. 127, s. 15A:5-12, eff. Oct. 1, 1983.