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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 24869
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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Does California corporate law require unlisted C corporations

Customer Question

Does California corporate law require unlisted C corporations to use cumulative voting to elect directors?

(Our corporation would like to opt-out of cumulative voting for directors if the CA code permits that.)
Submitted: 7 years ago.
Category: Business Law
Expert:  Law Pro replied 7 years ago.
In California - Cumulative voting is mandatory for all corporations not publicly traded on a major exchange. Other corporations may eliminate cumulative voting by amending its articles of incorporation or through its bylaws. When cumulative voting is permitted, shareholders are subject to notice requirements prior to cumulating votes. See Cal. Corp. Code §§ 301.5, 708(a)-(b) (2004).