CORPORATE ACT
Director/Trustees Stockholders
1. Amendments, repeal, or adoption of new by-laws
2. Entering into management contr act
3. Issuance of stock dividends
4. Amendment to articles of incorporation
5. Grant of compensation to directors
6.Extending or shortening the corporate term
7. Increase or decrease of capital stock
8. To incur, create, or increase bonded indebtedness
9. Investment of corporate funds in another corporation or
business or for any other purpose other than the primary
purpose
10. The sale or other disposition of all or substantially all
of the corporate assets
11. Merger or consolidation
12. Voluntary dissolution
13. To adopt a plan of distribution of assets of a non-stock
corporation
VOTE REQUIREMENT
Majority vote of the BOD
Majority of the quorum of the BOD
Majority of the quorum of the BOD
Majority vote of the BOD
Approval of the Board
Majority vote of the BOD
Majority vote of the BOD
Majority vote of the BOD
Majority vote of the BOD
Approval of the board
Majority vote of the BOD
Majority vote of the BOD
Majority vote of the Trustees
GR: Majority vote of the outstanding capital stock
XPN: If delegated by the stockholders to the board
GR: Vote of the majority of the outstanding shares of
stock or members of both the managing and the managed
corporation.
XPN: The vote required for the managed corporation is not
merely majority but 2/3 of the outstanding capital stock in
cases where:
1. A stockholder or stockholders representing the same
interest of both the managing and the managed
corporations own or control more than one-third (1/3) of
the total outstanding capital stock entitled to vote of the
managing corporation; or
2. Majority of the members of the board of directors of the
managing corporation also constitute a majority of the
members of the board of directors of the managed
corporation.
Vote representing 2/3 of the outstanding capital stock
Vote representing 2/3 of the outstanding capital stock
Majority vote of the outstanding capital stock
Vote representing 2/3 of the outstanding capital stock
Vote representing 2/3 of the outstanding capital stock
Vote representing 2/3 of the outstanding capital stock
Vote representing 2/3 of the outstanding capital stock
Vote representing 2/3 of the outstanding capital stock
Vote representing 2/3 of the outstanding capital stock
Vote representing 2/3 of the outstanding capital stock
2/3 of the members having voting rights