16:13-7 - Corporate action by majority vote; right to vote - New Jersey Statutes

16:13-7.  Corporate action by majority vote;  right to vote
    The proceedings, orders and acts of a majority of all the members of the corporation, but not of a less number, shall be valid and effectual.  No member  shall be allowed to vote on any matter which immediately affects himself, his  private interest or emolument.