Shareholders’ Meetings and Consents

Cal. CORP § 603

California Statutes

(

a) Unless otherwise provided in the articles, any action that may be taken at any annual or special meeting of shareholders may be taken without a meeting and without prior notice, if a consent in writing, as specified in

Section 195, setting forth the action so taken, shall be provided by the holders of outstanding shares having not less than the minimum number of votes that would be necessary to authorize or take that action at a meeting at which all shares entitled to vote thereon were present and voted. (

b) Unless the consents of all shareholders entitled to vote have been solicited in writing, both of the following shall apply:

(1) Notice of any shareholder approval pursuant to

Section 310, 317, 1152, 1201 (except for a reorganization as to which shareholders have the right, pursuant to

Chapter 13 (commencing with

Section 1300) to demand payment of cash for their shares), or without a meeting by less than unanimous written consent shall be given at least days before the consummation of the action authorized by that approval. Notice shall be given as provided in subdivision (

b) of

Section 601.

(2) Prompt notice shall be given of the taking of any other corporate action approved by shareholders without a meeting by less than unanimous written consent, to those shareholders entitled to vote who have not consented in writing. Notice shall be given as provided in subdivision (

b) of

Section 601. (

c) Any shareholder giving a written consent, or the shareholder’s proxyholders, or a transferee of the shares or a personal representative of the shareholder or their respective proxyholders, may revoke the consent personally or by proxy by a writing received by the corporation prior to the time that written consents of the number of shares required to authorize the proposed action have been filed with the secretary of the corporation, but may not do so thereafter. The revocation is effective upon its receipt by the secretary of the corporation. (

d) Notwithstanding subdivision (a), directors may not be elected by written consent except by unanimous written consent of all shares entitled to vote for the election of directors; provided that the shareholders may elect a director to fill a vacancy, other than a vacancy created by removal, by the written consent of a majority of the outstanding shares entitled to vote.

Document details

CollectionCalifornia Statutes
CitationCal. CORP § 603
Date2014-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierCORP603.20131091

Shareholders’ Meetings and Consents

Cal. CORP § 603

California Statutes

Shareholders’ Meetings and Consents

Cal. CORP § 603

California Statutes

(

a) Unless otherwise provided in the articles, any action that may be taken at any annual or special meeting of shareholders may be taken without a meeting and without prior notice, if a consent in writing, as specified in

Section 195, setting forth the action so taken, shall be provided by the holders of outstanding shares having not less than the minimum number of votes that would be necessary to authorize or take that action at a meeting at which all shares entitled to vote thereon were present and voted. (

b) Unless the consents of all shareholders entitled to vote have been solicited in writing, both of the following shall apply:

(1) Notice of any shareholder approval pursuant to

Section 310, 317, 1152, 1201 (except for a reorganization as to which shareholders have the right, pursuant to

Chapter 13 (commencing with

Section 1300) to demand payment of cash for their shares), or without a meeting by less than unanimous written consent shall be given at least days before the consummation of the action authorized by that approval. Notice shall be given as provided in subdivision (

b) of

Section 601.

(2) Prompt notice shall be given of the taking of any other corporate action approved by shareholders without a meeting by less than unanimous written consent, to those shareholders entitled to vote who have not consented in writing. Notice shall be given as provided in subdivision (

b) of

Section 601. (

c) Any shareholder giving a written consent, or the shareholder’s proxyholders, or a transferee of the shares or a personal representative of the shareholder or their respective proxyholders, may revoke the consent personally or by proxy by a writing received by the corporation prior to the time that written consents of the number of shares required to authorize the proposed action have been filed with the secretary of the corporation, but may not do so thereafter. The revocation is effective upon its receipt by the secretary of the corporation. (

d) Notwithstanding subdivision (a), directors may not be elected by written consent except by unanimous written consent of all shares entitled to vote for the election of directors; provided that the shareholders may elect a director to fill a vacancy, other than a vacancy created by removal, by the written consent of a majority of the outstanding shares entitled to vote.

Document details

CollectionCalifornia Statutes
CitationCal. CORP § 603
Date2014-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierCORP603.20131091
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