Action by Single or Multiple Voting Groups

4 CMC § 4407 — under Shareholders.

4 CMC § 4407

TITLE 4: ECONOMIC RESOURCES

DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

§ 4407. Action by Single and Multiple Voting Groups. (a) If the articles of incorporation or this part provide for voting by a single voting group on a matter, action on that matter is taken when voted upon by that voting group as provided in 4 CMC § 4406. (b) If the articles of incorporation or this part provide for voting by two or more voting groups on a matter, action on that matter is taken only when voted upon by each of those voting groups counted separately as provided in 4 CMC § 4406. Action may be taken by one voting group on a matter even though no action is taken by another voting group entitled to vote on the matter. Source: PL 10-7, § 1 (Bus. Corp. Reg. § 7.26).