US Laws, Codes, Statutes & Cases

53-18-6. Greater voting requirements.

Whenever a section of the Business Corporation Act [Chapter 53, Articles 11 to 18 NMSA 1978] specifies the vote of the holders of a certain proportion of the shares, or of any class or series thereof, for the taking of any action by the shareholders of a corporation, the articles of incorporation may require a greater proportion. An amendment to the articles of incorporation which adds, changes or deletes a provision for a greater proportion must be adopted by the same vote as would be required to take action under the provision to be adopted or then in effect, whichever is greater.