4:13-24.1 - Proportionate voting rights; exception - New Jersey Statutes

4:13-24.1.  Proportionate voting rights;  exception
    An association incorporated under this chapter may provide in its certificate of incorporation or by-laws for proportionate or unequal voting rights of all its members based upon the patronage of said members, which shall  be exercised when and as provided in said by-laws, except that no member shall  be entitled to more than one vote in any case in which a statute requires the  affirmative vote of a majority or more of the members. The method by which  such proportionate voting rights shall be as determined and fixed in the  certificate of incorporation or by-laws as the case may be.

     L.1966, c. 286, s. 21.