Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Other Law (https://www.askmehelpdesk.com/forumdisplay.php?f=190)
-   -   501 C7 board changed voting requirements (https://www.askmehelpdesk.com/showthread.php?t=702391)

  • Sep 16, 2012, 09:20 AM
    cerwax
    501 C7 board changed voting requirements
    Our club a 501 (c) 7 recently asked for voting approval for a loan of $2million. Their documentation said 2/3 vote of members was required to approve. However, after the vote they said they only needed 51% of the vote to approve. The voting tally would have not allowed them to go forward with the stated 2/3 requirement but did when they changed the requirement to 51%.

    There was no notification to members that the 2/3 majroity was changed prior to the meeting.

    Is there a way this can be challenged.
  • Sep 16, 2012, 05:21 PM
    AK lawyer
    Quote:

    Originally Posted by cerwax View Post
    ...
    Is there a way this can be challenged.

    Possibly. You should examine the corporation code for whichever state it is under which the corporation is organized.

  • All times are GMT -7. The time now is 07:54 PM.