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 ?
In general, voters almost always voted for their own party when the polling data showed it had a chance of reaching a super-majority share.
Though the MDP today commands a super-majority, it is not hard to foresee an issue like Chinese investments polarizing a more diverse legislature and perhaps throwing investments worth billions of dollars into limbo.
The lawmakers yesterday pledged to muster a super-majority to pass the bill a second time, should the head of state reject it.
The Bill will require a "super-majority" of 40 AMs to vote in favour before it can become law.
Despite President Rodrigo Duterte's public popularity and the super-majority he holds in Congress, Senate majority leader Juan Miguel Zubiri earlier said the proposed corporate tax reform has 'very little support' from senators amid fears that the measure could slow investments and fan inflation.
As with most states, California's independent legal ability to raise taxes is unlimited, although subject to legislative super-majority voting requirements.
Opposition parties are keen to make sure Mr Orban's bloc does not sweep to a super-majority in which the autocratic leader could easily push through constitutional changes.
Hey Senators Terry Burton, President Pro Tempore and Rules Committee Chairman (2002), Videt Carmichael, Insurance Committee Chairman (2002), Tommy Gollott, Ports and Marine Resources Committee Chairman (2007), Gray Tollison, Education Committee Chairman (2011), and Nicky Browing, Forestry Committee Chairman (2013), y'all switched and helped give the GOP a conservative super-majority (over 60 percent) in the Senate in 2013.
'Minamdali na ni Duterte sa pamamagitan ng kanyang mga kasabawat na super-majority allies sa loob ng kongreso at dalian na pag-impeach kay CJ sereno para tanggalan ng boses nago-oppose sa mg patakaaran ni Duterte,' she said.
The Senate added provisions allowing the mayor to appoint a majority of pension board members, change how the city's contributions are calculated after 2024 and require super-majority votes on major changes to benefits and contributions.
According to a news item posted on PNW's website, the merger "passed with a super-majority vote from both companies."
In the State Senate, the Democrats are one seat short of a super-majority, while the Assembly is two seats shy of a super-majority, adding to the many woes of California Republicans.