§414-302 - Bylaw increasing quorum or voting requirement for shareholders.
[§414-302] Bylaw increasing quorum or
voting requirement for shareholders. (a) If authorized by the articles of
incorporation, the shareholders may adopt or amend a bylaw that fixes a greater
quorum or voting requirement for shareholders (or voting groups of
shareholders) than is required by this chapter. The adoption or amendment of a
bylaw that adds, changes, or deletes a greater quorum or voting requirement for
shareholders 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
requirement then in effect or proposed to be adopted, whichever is greater.
(b) A bylaw that fixes a greater quorum or
voting requirement for shareholders under subsection (a) may not be adopted,
amended, or repealed by the board of directors. [L 2000, c 244, pt of §1]