N.C. Gen. Stat. § 55-10-22
Bylaw increasing quorum or voting requirement for directors or prohibiting a meeting of shareholders solely by remote participation
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) A bylaw that fixes a greater quorum or voting requirement for the board of directors may be amended or repealed: If originally adopted by the shareholders, only by the shareholders, unless amendment or repeal by the board of directors is permitted pursuant to subsection (b);
(1) A bylaw that fixes a greater quorum or voting requirement for the board of directors or that prohibits a meeting of shareholders solely by means of remote communication may be amended or repealed as follows: If originally adopted by the shareholders, only by the shareholders, unless amendment or repeal by the board of directors is permitted pursuant to subsection (b) of this section.
(2) If originally adopted by the board of directors, either by the shareholders or by the board of directors.
(2) If originally adopted by the board of directors, either by the shareholders or by the board of directors.
(3) A bylaw adopted or amended by the shareholders that fixes a greater quorum or voting requirement for the board of directors may provide that it may be amended or repealed only by a specified vote of either the shareholders or the board of directors.
(3) A bylaw adopted or amended by the shareholders that fixes a greater quorum or voting requirement for the board of directors may provide that it may be amended or repealed only by a specified vote of either the shareholders or the board of directors.
(4) A bylaw referred to in subsection (a): May not be adopted by the board of directors by a vote less than a majority of the directors then in office, and
(4) The following applies to a bylaw referred to in subsection (a) of this section. It shall not be adopted by the board of directors by a vote less than a majority of the directors then in office.
(5) May not itself be amended by a quorum or vote of the directors less than the quorum or vote therein prescribed or prescribed by the shareholders pursuant to subsection (b).
(5) It shall not itself be amended by a quorum or vote of the directors less than the quorum or vote therein prescribed or prescribed by the shareholders pursuant to subsection (b) of this section.
History
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.