§ 117 Class Share Voting Requirements

Corporations Code·California

AI SummaryVerified

This law says that when a company needs to vote on something, every type of share gets a vote, even if some shares usually can't vote.

Key Takeaways

•Every type of share gets a vote on big company decisions.
•This happens even if some shares usually can't vote.
•The law only changes this if it says so.

Example

A company wants to make a big change, like selling the business.

Even if some shares don't usually get to vote, they still get a vote on this big decision.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 117 Class Share Voting Requirements

Any requirement in this division for a vote of each class of outstanding shares means such a vote regardless of limitations or restrictions upon the voting rights thereof, unless expressly limited to voting shares. (Added by Stats. 1976, Ch. 641.)

Last verified: January 10, 2026

Key Terms

vote outstanding shares limitations or restrictions voting rights

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 117.

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Key Takeaways

Example

Key Terms

Related Statutes

References