Loading chat...
NJ S4974
Bill
Status
1/12/2026
Primary Sponsor
Patrick Diegnan
Click for details
AI Summary
-
Amends N.J.S.14A:5-11 to allow corporate bylaws to set a voting standard requiring a majority of shares present or represented by proxy at a shareholder meeting, rather than just a majority of votes cast
-
Maintains the existing default rule that shareholder actions (other than director elections) require approval by a majority of votes cast at the meeting
-
Replaces the term "plurality" with "vote" throughout the statute and updates statutory citations from "this act" to the formal citation "N.J.S.14A:1-1 et seq."
-
Preserves existing requirements for class or series voting when specified by the certificate of incorporation or required by law
-
Takes effect immediately upon enactment and applies to votes occurring on or after the effective date
Legislative Description
Updates law governing votes by shareholders for items other than for election of members to board of directors.
Financial Institutions and Insurance
Last Action
Received in the Assembly, Referred to Assembly Financial Institutions and Insurance Committee
1/12/2026