N.Y. Banking Law 6017 – Voting by class or classes of shares
§ 6017. Voting by class or classes of shares. 1. The organization certificate may contain provisions specifying that any class or classes of shares or of any series thereof shall vote as a class in connection with the transaction of any business or of any specified item of business at a meeting of stockholders, including amendments to the organization certificate.
Terms Used In N.Y. Banking Law 6017
- Organization certificate: includes (a) the original organization certificate or any other instrument filed or issued under any statute to form a corporation or foreign corporation, as amended, supplemented or restated by certificates of amendment, merger or consolidation or other certificates or instruments filed or issued under any statute; or (b) a special act or charter creating a corporation or foreign corporation, as amended, supplemented or restated by special acts or by certificates of amendment, merger or consolidation or other certificates or instruments filed or issued under any statute. See N.Y. Banking Law 1001
2. Where voting as a class is provided in the organization certificate, it shall be by the proportionate vote so provided or, if no proportionate vote is provided, in the election of directors, by a plurality of the votes cast at such meeting by the holders of shares of such class entitled to vote in the election, or for any other corporate action, by a majority of the votes cast at such meeting by the holders of shares of such class entitled to vote thereon.
3. Such voting by class shall be in addition to any other vote, including vote by class, required by this chapter and by the organization certificate as permitted by this article.