North Dakota § 10-35-11 Supermajority provisions prohibited

North Dakota Statutes

§ 10-35-11 — Supermajority provisions prohibited

North Dakota·Title 10 Corporations·Ch. 10-35 Publicly Traded Corporations

Neither the articles nor the bylaws of a publicly traded corporation may provide a quorum or voting requirement:

1.For the board or a committee of the board that is greater than a majority of the number of directors that would constitute the full board or committee assuming there are no vacancies; or

2.For shareholders that is greater than a majority of the voting power of the shares entitled to vote on the item of business or, in the case of a class or series entitled to vote as a separate group, a majority of the voting power of the outstanding shares of the class or series.

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Neither the articles nor the bylaws of a publicly traded corporation may provide a quorum or
voting requirement:
1. For the board or a committee of the board that is greater than a majority of the
number of directors that would constitute the full board or committee assuming there
are no vacancies; or
2. For shareholders that is greater than a majority of the voting power of the shares
entitled to vote on the item of business or, in the case of a class or series entitled to
vote as a separate group, a majority of the voting power of the outstanding shares of
the class or series.

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