Supermajority

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Related to Super-majority: absolute majority

Supermajority

Provision in a company's charter requiring a majority of, say, 80% of shareholders to approve certain changes, such as a merger.

Supermajority

A percentage of shareholders, usually 67% to 90%. A supermajority is often required for a company to take certain actions, such as amending the charter. Some companies require supermajorities as anti-takeover measures. For example, a company may require two-thirds of shareholders to approve of a merger or acquisition. Supermajority provisions exist primarily to ensure the company's independent survival, but they may limit the board of directors' authority in even a friendly takeover.

supermajority

A specified number of votes greater than a 51 percent simple majority. Some condo association bylaws,corporation bylaws,or neighborhood association rules require a supermajority for certain actions, such as making special assessments or amending the bylaws. The rules for the organization will specify the size of the supermajority, which can be anything from 67 to 95 percent.

References in periodicals archive ?
But, on September 14, the militant solons announced their separation from the super-majority.
This would be Turkey's fourth constitution; but it would require a super-majority in the parliament for such a charter to be passed.
Mugabe won 61 per cent of the presidential vote and a super-majority in parliament in the election.
They were able to capture a two-thirds super-majority in both the Assembly and the Senate.
Passage of the Unfunded Mandate Reform Act would require a super-majority, or three-fifths of legislators, to enact new unfunded mandates.
Maybe we can conclude that it is wise to require a super-majority before amendments are sent to the voters, and it is wise to require even a larger number of voters to approve before the state Constitution is changed.
Requiring a higher threshold for taxes has historically been justified on similar grounds as for other subject matters subject to super-majority requirements," such as impeachments and removals from office, Joseph Henchman writes.
He was the prime mover behind the 1986 law that imposed sanctions on South Africa's apartheid regime, an effort that involved passing it; having President Reagan veto it (he opposed sanctions); drafting and passing a watered-down version; having Reagan veto that; and corralling a two-thirds super-majority to overturn the second veto.
Decision making at the general meetings of shareholders: What is the quorum, are decisions taken by simple majority or super-majority, any special veto rights?
Second, minority owners can hold up asset sale transactions if a so-called super-majority provision exists in your
The bill is likely to be passed by far more than the two-thirds super-majority needed in the parliament because it has been drafted by a parliamentary committee made up of all political groups.
His statements come at a time when the president's health care reform bill is stalled in Congress because the Senate lost its super-majority when Massachusetts elected Republican Scott Brown last week.