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

This bill (A6121) updates New Jersey's law governing how corporations require shareholder votes for decisions other than electing board members. It allows corporations to specify in their bylaws that certain actions must be approved by a majority of shareholders present at the meeting or voting by proxy (not just a majority of votes cast). This directly affects New Jersey corporations holding shareholder meetings, giving them flexibility to set clearer voting thresholds for non-director matters. The change applies immediately to votes occurring on or after the law's enactment date.