California Corporations Code

§ 7521

CORP § 7521 Effective Jan 1, 1997Div. 2 · Title 1 · Part 3 · Ch. 5 · Art. 2

Statute text

A corporation with 500 or more members may provide that, except for directors who are elected as authorized by Section 7152 or 7153, and except as provided in Section 7522, any person who is qualified to be elected to the board of directors of the corporation may be nominated:

(a)By any method authorized by the bylaws, or if no method is set forth in the bylaws by any method authorized by the board.

(b)By petition delivered to an officer of the corporation, signed within 11 months preceding the next time directors will be elected, by members representing the following number of votes: Number of Votes Eligible to be Cast for Director Disregarding any Provision for Cumulative Voting Number of Votes Under 5,000 2 percent of voting power 5,000 or more one-twentieth of 1 percent of voting power but not less than 100. This subdivision does not apply to a corporation described in subdivision (c).

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Legislative history

Amended by Stats. 1996, Ch. 589, Sec. 31. Effective January 1, 1997.