California Corporations Code

§ 1111

CORP § 1111Div. 1 · Title 1 · Ch. 11

Statute text

If any disappearing corporation in a merger is a close corporation and the surviving corporation is not a close corporation, the merger shall be approved by the affirmative vote of at least two-thirds of each class of the outstanding shares of such disappearing corporation; provided, however, that the articles may provide for a lesser vote, but not less than a majority of the outstanding shares of each class.

Legislative history

Amended by Stats. 1976, Ch. 641.