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

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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.

State Codes and Statutes

Statutes > New-jersey > Title-4 > Section-4-13 > 4-13-24-1

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.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-jersey > Title-4 > Section-4-13 > 4-13-24-1

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.