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California Code, Corporations Code - CORP § 5521

Current as of January 01, 2023 | Updated by FindLaw Staff

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.

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Cite this article: FindLaw.com - California Code, Corporations Code - CORP § 5521 - last updated January 01, 2023 | https://codes.findlaw.com/ca/corporations-code/corp-sect-5521/

Read this complete California Code, Corporations Code - CORP § 5521 on Westlaw

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