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 ?
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.
Unlike the supermajority in the House, the members of the commission were chosen regardless of their political attachment and loyalties.
What happens now in the House will certainly happen in the projected constituent assembly composed of the supermajority blindly allied with the President.
that some of his fellow Liberal Party (LP) solons from the Supermajority were tantalizingly close to joining what media have christened the default opposition bloc.
Supermajority rules promise a voting threshold that demands neither too little nor too much--both for constitutional change and for ordinary legislation.
A lower supermajority like 60 percent would put Republicans in control, given the current configuration.
Online marketplace eBay Inc (NASDAQ:EBAY) reported on Tuesday that its board of directors has taken action to eliminate a supermajority voting requirement in its bylaws.
The Small Business Administration may find an affiliation between such concerns and their minority shareholders (or their affiliated businesses) if supermajority voting rights provide minority shareholders with negative control.
It takes 36 votes - a three-fifths supermajority - to raise taxes in the House.
But urgency legislation needs a supermajority -- 54 votes in the Assembly, as opposed to the usual 41 -- to pass, and Murray's bill couldn't muster the support.
The structure of 524(g) significantly tilted the playing field to benefit current asbestos claimants because they must approve a 524(g) plan by a 75% supermajority.
The Constitution was written to ensure that public opinion cannot simply trump certain minority rights unless it is amended through a pointedly burdensome supermajority, procedure.