New Jersey S694 updates the law on shareholder votes for actions other than director elections.
New Jersey S694 amends the statute governing shareholder votes for actions other than the election of board directors. It specifies that such votes require a majority of the votes cast by shareholders entitled to vote, unless a greater vote is required by the corporation's certificate of incorporation or another section of law. The bill also allows for the vote requirement to be set in the corporation's bylaws. This change applies to votes occurring after the bill's enactment.
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