Supermajority

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Supermajority

Provision in a company's charter requiring a majority of, say, 80% of shareholders to approve certain changes, such as a merger.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
(30) McGinnis and Rappaport now use the theorem to claim that supermajorities are better, politically and constitutionally, than majorities.
They are instead arguments only for decisions made by big groups--by big juries and perhaps by supermajorities. We should also note that it is unclear how well Condorcet works outside the jury room.
Senate supermajorities failing to confer any surplus of legislative productivity may seem puzzling, but the reason is readily apparent.
Senate supermajorities provide legislative benefits to any party, whether or not it controls the presidency.
Proponents of the supermajority rule argue that the framers may have meant this list to be simply the minimal list of occasions that require supermajorities and that they intended to allow Congress to add to the list.
The Open Letter's attempt to establish a constitutional requirement of majority rule fails because the only inference that can be drawn from the provisions requiring supermajorities in certain instances is that the Constitution itself does not require a supermajority for the passage of legislation.
The best textual reading of the Constitution demonstrates that Congress, acting by majority vote under its explicit rulemaking authority, may require supermajorities for votes on specific legislation.
Finally, although I do not favor a balanced budget amendment on the grounds that it might be impossible to enforce, I would support a constitutional amendment, or even a legislative provision, that stipulates that all revenue and expenditure initiatives require supermajorities (for example, 60 percent) to pass both houses of the Congress.
Suburban gains help push General Assembly to Democratic supermajorities
To hear the new leaders of the House and the Senate announce to the world that they will vote for Duterte's choices, and then to hear them trumpet supermajorities as though these were an unalloyed good, is to see cracks forming on a founding, constitutional principle.
The larger question, about why and where we require supermajorities, is a topic saved for another day.(45)
The Articles of Confederation required congressional supermajorities for especially important subjects, including the raising and spending of money.(5) But the Philadelphia Convention decisively rejected such a system, repeatedly voting down key proposals that would have imposed supermajorities in legislative fields of special sensitivity.(6) In The Federalist No.