State Codes and Statutes
Statutes > North-carolina > Chapter_55 > GS_55-9-02§55‑9‑02. Voting requirement.
Notwithstanding any otherprovisions of the North Carolina Business Corporation Act, the affirmative voteof the holders of ninety‑five percent (95%) of the voting shares of acorporation, considered for the purposes of this section as one class, shall berequired for the adoption or authorization of a business combination with anyother entity if, as of the record date for the determination of shareholdersentitled to notice thereof and to vote thereon, the other entity is thebeneficial owner, directly or indirectly, of more than twenty percent (20%) ofthe voting shares of the corporation, considered for the purposes of thissection as one class. (1987, c. 88. s. 1; 1989, c. 265, s. 1.)
