In the shareholders' agreement of my company (c corp, we don't have bylaws), there is a clause,
"All decisions regarding management of the corporation will be made by a vote of 70% of shares held by shareholders".
There are two differnet interpretation of this sentence,
A). Some people understand it as there has to be 70% of total shares vote in favor a decision in order to pass a decision.
B). Some other people interpret it as at least 70% of shares have to come to a meeting to vote and majority among these shares will win. For example, if 69% of shares vote, it won't be valid. if 70% shares vote, more than half of it, 36% of shares can decide.
In short, the original sentence is,
"Decision be made by a vote of 70% of shares."
it is equivalent to,
"70% of shares vote to make decision".
I can gather 61% of vote. I hope the cluase to be interpreted as option B).
如何理解這個條款，請賜教!
