Common use of Action by Shareholders Clause in Contracts

Action by Shareholders. When a quorum is present at any meeting, action on any matter, other than the election of directors, by a voting group is approved if the votes cast within the voting group favoring the action exceed the votes cast opposing the action, unless the question is one upon which by express provision in the Charter or the Act, a different vote is required, in which case, such express provision shall govern and control the decision of such question.