other material
confidence high
sentiment neutral
materiality 0.30
CoastalSouth amends bylaws to add exclusive forum and 1% standing requirement for derivative suits
CoastalSouth Bancshares, Inc.
- Board approved exclusive forum provision designating Georgia State-wide Business Court for internal entity claims.
- Shareholders must own at least 1% of outstanding shares to have standing to commence derivative proceedings.
- Exclusive forum does not apply to direct claims under federal securities laws (Securities Act or Exchange Act).
- Amendment effective July 23, 2026; full text filed as Exhibit 3.2 to the 8-K.