A BILL TO BE ENTITLED
AN ACT to amend the law relating to special meetings of shareholders under the north carolina business corporation act, as recommended by the general statutes commission.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 55‑7‑02(a) reads as rewritten:
"(a)	A corporation shall hold a special meeting of shareholders:
(1)	On call of its board of directors or the person or persons authorized to do so by the articles of incorporation or the bylaws; or
(2)	In the case of a corporation that is not a public corporation, within 30 days after the holders of at least ten percent (10%) of all the votes entitled to be cast on any issue proposed to be considered at the proposed special meeting sign, date, and deliver to the corporation's secretary one or more written demands for the meeting describing the purpose or purposes for which it is to be held. The written demand shall cease to be effective on the sixty-first day after the date of signature appearing on the demand unless prior to the sixty-first day the corporation has received effective written demands from holders sufficient to call the special meeting."
SECTION 2.  This act is effective when it becomes law.