Dissolution by Shareholder Vote Clause Samples
The 'Dissolution by Shareholder Vote' clause establishes the process by which a company can be dissolved through the approval of its shareholders. Typically, this clause outlines the required voting threshold—such as a simple majority or supermajority—and the procedures for calling and conducting the vote. For example, it may specify that a special meeting must be convened and that all shareholders are entitled to participate in the decision. The core function of this clause is to provide a clear, democratic mechanism for winding up the company, ensuring that such a significant action reflects the collective will of the ownership and is carried out in an orderly manner.
Dissolution by Shareholder Vote. The Company may be dissolved at any time, without the necessity for concurrence by the Board, upon affirmative vote by the holders of more than fifty percent (50%) of the outstanding Shares entitled to vote on the matter.
Dissolution by Shareholder Vote. The Trust may be dissolved at any time, without the necessity for concurrence by the Board of Trustees, upon affirmative vote by the holders of more than 50% of the outstanding Shares entitled to note on the matter.