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N.D. Cent. Code § 10-35-20

Action by shareholders without a meeting

Known as the North Dakota Publicly Traded Corporations Act

The act spans §§ 10–10 (33 sections).

1. An action required or permitted to be taken at a meeting of the shareholders of a publicly traded corporation may be taken without a meeting by one or more records signed by shareholders who own voting power equal to the voting power that would be required to take the same action at a meeting of the shareholders at which all shareholders were present.

2. Action may not be taken by a publicly traded corporation by ballot of its shareholders without a meeting.

Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.