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If you are a minority shareholder, you have the right to vote, dissent, and access key documents. These rights give you a say in the selection of corporate directors, the sale of assets outside normal operations, corporate mergers, and share exchanges.
Right to vote on major decisions and election of directors; Right to participate in meetings; Right to receive dividends; and. Right to inspect company records that are relevant to the shareholder's interests.
If there is any oppression or mismanagement, the rights of minorities can be protected by making an appeal to the Central Government, the Company Law Tribunal, or the court of law. These agencies have vested powers to prevent operation and mismanagement through the appointment of directors as per the statute.
Corporate bylaws are legally required in North Carolina. North Carolina law requires the incorporators or board of directors of a corporation to adopt initial bylaws?per NC Gen. Stat. § 55-2-06. The law doesn't specify when bylaws must be adopted, but this usually happens at the first organizational meeting.
In company law, a minority shareholder has little if any power over the management of the company or the distribution of its profits.As a general principle, the majority rules. For instance, shareholders with less than 50% of the shares in the company cannot appoint a new director.