Statute · California Corporations Code

Cal. Corp. Code § 5521 — Additional Provisions Relating to Election of Directors

Cal. Corp. Code § 5521

Type
Statute
Source
California Corporations Code
Jurisdiction
California
Date
1997-01-01
Current through
Nov 2, 2026 (California Legislative Counsel)

A corporation with 500 or more members may provide that, except for directors who are elected as authorized by Section 5152 or 5153, and except as provided in Section 5522, any person who is qualified to be elected to the board of directors of the corporation may be nominated:

Citator

Cal. Corp. Code § 5521 — Additional Provisions Relating to Election of Directors is in force in the current edition of the Code, and nothing recorded condemns it.

A corporation with 500 or more members may provide that, except for directors who are elected as authorized by Section 5152 or 5153, and except as provided in Section 5522, 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, nor more than 500.

(c) If there is a meeting to elect directors, by any member present at the meeting in person or by proxy if proxies are permitted.