1-08-05. Validating proceedings of a corporation by two-thirds vote.
68 words·~1 min read·
/nd/title-01/chapter-1-08-miscellaneous/1-08-05·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Proceedings had or authorized prior to July 1, 1941, by a two-thirds vote shall be in all things deemed legal and binding upon all stockholders or members of a corporation unless, within ninety days after this code takes effect, nonassenting stockholders or members by action to enjoin or by other appropriate judicial process shall question the legality of any sale made or act done pursuant to such authorization.