2020 New Mexico Statutes
Chapter 53 - Corporations
Article 18 - Business Corporations; Miscellaneous Provisions
Section 53-18-6 - Greater voting requirements.

Universal Citation: NM Stat § 53-18-6 (2020)

Whenever a section of the Business Corporation Act 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.

History: 1978 Comp., § 53-18-6, enacted by Laws 1983, ch. 304, § 71.

ANNOTATIONS

Repeals and reenactments. — Laws 1983, ch. 304, § 71, repealed former 53-18-6 NMSA 1978, relating to greater voting requirements, and enacted the above section.

Compiler's notes. — This section is derived from Section 143 of the ABA Model Business Corporation Act.

Law reviews. — For article, "1983 Amendments to the New Mexico Business Corporation Act and Related Statutes," see 14 N.M.L. Rev. 371 (1984).

Am. Jur. 2d, A.L.R. and C.J.S. references. — Validity, construction, and effect of provision in charter or bylaw requiring supermajority vote, 80 A.L.R.4th 667.

Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.