Legal Question in Business Law in Texas
Texas Corporation
On matters under conderation by the Board Of Directors, does the vote of the Chairman carry any more weight than other Board Members.? Does a minority or non stockholding director's vote on matters before the board have as much weight as a morjority stockholder or the Board Chairman?
1 Answer from Attorneys
Re: Texas Corporation
Based on what you have written, more specific facts would be required to provide you with an opinion. Generally, depending upon the organziation's By-Laws, each shareholder may have one vote for each share held. Additionally, the Chairman generally would only have the number of votes that he holds, unless the By-Laws are to the contrary. If my law firm can assist you with this legal issue or any other legal matter, please contact my legal assistant Jennifer ([email protected]).
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