15A:10-3. Approval by corporation not having members entitled to vote
69 words·~1 min read·
/nj/title-15a/chapter-10/15a-10-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When a corporation is without members entitled to vote thereon, a merger or consolidation shall be approved upon receipt of the affirmative vote of two-thirds of the trustees present at a meeting called for the purpose of considering and voting upon the proposed merger or consolidation, unless a greater number is fixed by the certificate of incorporation or the bylaws.
L.1983, c. 127, s. 15A:10-3, eff. Oct. 1, 1983.