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Simple English definitions for legal terms

majority-consent procedure

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A quick definition of majority-consent procedure:

A majority-consent procedure is a way for shareholders of a company to make decisions without having to hold a meeting. Instead, they can simply write down their agreement and if the majority of shareholders are in favor, the decision is made. This is allowed in some states, like Delaware, to make decision-making easier for companies.

A more thorough explanation:

A majority-consent procedure is a legal provision that allows shareholders of a corporation to make decisions without having to hold a formal meeting. Instead, they can act by written consent of the holders of a majority of shares. This procedure is available in some states, including Delaware.

Let's say a corporation has 100 shares outstanding. The majority-consent procedure would allow the holders of 51 shares to make decisions on behalf of the entire corporation without having to hold a meeting. For example, they could vote to approve a merger or acquisition, elect new board members, or make changes to the corporation's bylaws.

This procedure can be useful for corporations that have a large number of shareholders or when it is difficult to schedule a meeting. It also allows decisions to be made more quickly than if a meeting were required.

majori minus inest | majority-minority district

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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