3 ms·
Specifically, in certain states, my understanding is that a majority of the shareholders could take action at any point to permit any actions taken by Colbaltix
by btown 11y ago
Specifically, in certain states, my understanding is that a majority of the shareholders could take action at any point to permit any actions taken by Colbaltix, amending bylaws as necessary to bypass, say, any requirements for unanimous board decisions. I am not a lawyer, but there's a huge difference between 49% and 51%.
- NickNameNick 11y agoI would hope that votes to amend the company charter would be subject to quorum requirements. You shouldn't be able to have one faction of the company ownership hold a board meeting, not allow the rest of the board to be represented, and declare all of your subsection's decisions as being unanimous.