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Charter Amendment Limitations |
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Charter Amendment Limitations These provisions limit shareholders' ability to amend the governing documents of the corporation. This might take the form of a supermajority vote requirement for charter or bylaw amendments, total elimination of the ability of shareholders to amend the bylaws, or the ability of directors beyond the provisions of state law to amend the bylaws without shareholder approval. Charter Amendment Limitation A restriction on the process of amending the charter of a publicly-traded company. Examples of charter amendment limitations include requirements for a supermajority of shareholders to agree or a provision rendering certain parts of the charter unamendable. Charter amendment limitations can be part of an anti-takeover measure and are governed by state law. See also: Bylaw amendment limitations. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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