Ask Experts Questions for FREE Help !
Ask
    cerwax's Avatar
    cerwax Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 16, 2012, 09:20 AM
    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.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
    		  
    #2

    Sep 16, 2012, 05:21 PM
    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.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Can board members of a 501(c)(3) also be employees? [ 1 Answers ]

Say, for example the chairman of an organization that works with kids is also the founder of the organization and also serves as the main employee working one on one with the kids, should that person forfeit their position on the board to be compensated for their time in that capacity?

501 c 7 requirements [ 2 Answers ]

Trying to determine if our club qualifies as a 501 (c) (7). Our club has members and there is a gathering 4 times per month. The club members pay to be members and also pay a $10.00 fee per gathering. However, there are other similar clubs some being non-profit and some for profit and their...

Board member responsibility for 501 c 3 [ 0 Answers ]

I am one of the Directors on a 501 c 3 board. One of our Board members is the designer of the website. He is the only one to add content as well. Without Board notification, he has linked his own, for profit business, he is also taking a tax deduction for his work on the page. As I read the...

Can a board member of a 501(c) get contracts with the 501(c)? [ 1 Answers ]

We have a board member that has a current contract with the 501(c) that he sits on the board for. Is this legal, ethical, allowed?

View more questions Search