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New York Cooperative Corporations Law Section 46 - Proportionate Voting.

Legal Research Home > New York Lawyer > Cooperative Corporations > New York Cooperative Corporations Law Section 46 - Proportionate Voting.

    § 46.  Proportionate  voting.  A  corporation incorporated under this
  chapter  may  provide  in   its   certificate   of   incorporation   for
  proportionate  or  unequal  voting rights of all its members, based upon
  the patronage of said members, which shall  be  exercised  when  and  as
  provided in the by-laws of the corporation, except that no members shall
  be  entitled  to  more  than  one  vote  in  any case in which a statute
  requires the affirmative vote of a majority or more of the members.  The
  certificate  of  incorporation  shall  state  the  method  by which such
  proportionate voting rights shall be determined and fixed.

Last modified: August 10, 2006