Updates law governing votes by shareholders for items other than for election of members to board of directors.

This bill updates New Jersey law governing shareholder votes on issues other than electing directors. It allows corporations to require a majority of shareholders *present* at a meeting (not just those who cast votes) to approve such actions, through their bylaws. This change applies to all corporations holding shareholder meetings in New Jersey. The update gives companies more flexibility in setting voting thresholds for routine decisions like mergers or amendments. The bill is currently pending in the Senate.