[btown]

Specifically, in certain states, my understanding is that a majority of the shareholders could take action at any point to permit any actions taken by Colbaltix, amending bylaws as necessary to bypass, say, any requirements for unanimous board decisions. I am not a lawyer, but there's a huge difference between 49% and 51%.

[NickNameNick]

I would hope that votes to amend the company charter would be subject to quorum requirements.

You shouldn't be able to have one faction of the company ownership hold a board meeting, not allow the rest of the board to be represented, and declare all of your subsection's decisions as being unanimous.