Supermajority


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Related to Supermajority: absolute majority, supermajority provision

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 ?
Theconstitutionalamendmentproposed by Measure 104 wouldstrengthen and clarify once and for allthe supermajority requirement in Oregon's constitution relating to revenue-raising bills.
The return of a supermajority would allow for an easier path for progressive policies like major overhauls of the health and tax systems, transportation and other public works projects.
Drilon said the supermajority would railroad within two months between August and October the Charter Change and submit it to the plebiscite together with the barangay and SK elections in October or November.
Because of that, they say, Oregon lawmakers can cut tax breaks with a simple majority vote, not a three-fifths supermajority.
It's unclear if Trump can help the GOP win a supermajority in 2018.
MISSISSIPPI HOUSE REPUBLICANS LOCKED UP A SUPERMAJORITY with a 74-seat advantage after the chamber voted to seat the Republican challenger, Mark Tullos, in a race originally certified as a tie.
He was tested two years later, when Texas voters put a Republican supermajority in power.
We then argue for a different, more inclusive understanding of democratic change, both constitutional and otherwise--an understanding that includes a whole panoply of institutional, social, and political dynamics: formal rules and informal ones, voting requirements and nonvoting mechanisms, supermajority thresholds and social movements, legislatures and courts.
Greek Prime Minister Antonis Samaras secured the support of 160 lawmakers in the first round of a presidential vote on Wednesday, leaving him well short of the supermajority needed to win the final round later this month.
"After our review, we have concluded that it is in your best interest to proceed with the consolidation and IPO as approved by a supermajority of the Participants," the filing said.
Last night, President Obama won re-election by an Electoral College margin sufficient to render Florida irrelevant, and according to exit polls he won it with a comfortable supermajority among Jewish votersnot as many as voted for him in 2008, but still far more than the dismal 44 percent who voted for Jimmy Carter in 1980.
Achieving a supermajority of 67 votes is one of the most challenging tasks facing any administration.