§ 616. Greater requirement as to quorum and vote of shareholders.

339 words·~2 min read·/ny/business-corporation/shareholders/616·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The certificate of incorporation may contain provisions specifying

either or both of the following:

(1)That the proportion of votes of shares, or the proportion of votes

of shares of any class or series thereof, the holders of which shall be

present in person or by proxy at any meeting of shareholders, including

a special meeting for election of directors under section 603 (Special

meeting for election of directors), in order to constitute a quorum for

the transaction of any business or of any specified item of business,

including amendments to the certificate of incorporation, shall be

greater than the proportion prescribed by this chapter in the absence of

such provision.

(2)That the proportion of votes of shares, or votes of shares of a

particular class or series of shares, that shall be necessary at any

meeting of shareholders for the transaction of any business or of any

specified item of business, including amendments to the certificate of

incorporation, shall be greater than the proportion prescribed by this

chapter in the absence of such provision.

(b)An amendment of the certificate of incorporation which changes or

strikes out a provision permitted by this section, shall be authorized

at a meeting of shareholders by two-thirds of the votes of the shares

entitled to vote thereon, or of such greater proportion of votes of

shares, or votes of shares of a particular class or series of shares, as

may be provided specifically in the certificate of incorporation for

changing or striking out a provision permitted by this section.

(c)If the certificate of incorporation of any corporation contains a

provision authorized by this section, the existence of such provision

shall be noted conspicuously on the face or back of every certificate

for shares issued by such corporation, except that this requirement

shall not apply to any corporation having any class of any equity

security registered pursuant to Section twelve of the Securities

Exchange Act of 1934, as amended.