§ 6901 State Agency Proxy Voting

Government Code·California

AI SummaryVerified

Key Takeaways

•If a state agency owns stock in a company, they must vote on decisions when they get a proxy (a form to vote).
•They can choose not to vote on something, but they have to tell the company in writing.
•This rule applies to all parts of the state government, including schools like the University of California.

Example

The state owns stock in a big company like Apple. Apple sends a form asking the state to vote on a new rule for the company.

The state must vote on that rule. If they don’t want to vote, they have to write to Apple and say, 'We’re not voting on this.'

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

Official Source

View on CA.gov

§ 6901 State Agency Proxy Voting

Notwithstanding any other provision of the law, every state agency owning common stock shall, when returning proxies to a corporation, vote each proxy that is returned to the corporation. Nothing in this section shall prohibit a state agency owning common stock from abstaining on a corporate or shareholder proposal and notifying the corporation in writing of the state agency’s desire to abstain on a corporate or shareholder proposal. As used in this section “state agency” includes the state, the University of California, and any office, department, division, bureau, board, commission, agency, or pension or retirement system thereof. (Amended by Stats. 1981, Ch. 714, Sec. 163.)

Last verified: January 22, 2026

Key Terms

corporation retirement commission shareholder stock pension university

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 6901.

§ 6901 State Agency Proxy Voting

Government Code·California

AI SummaryVerified

§ 6901 State Agency Proxy Voting

Key Takeaways

•If a state agency owns stock in a company, they must vote on decisions when they get a proxy (a form to vote).
•They can choose not to vote on something, but they have to tell the company in writing.
•This rule applies to all parts of the state government, including schools like the University of California.

Example

The state owns stock in a big company like Apple. Apple sends a form asking the state to vote on a new rule for the company.

The state must vote on that rule. If they don’t want to vote, they have to write to Apple and say, 'We’re not voting on this.'

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

Official Source

View on CA.gov

§ 6901 State Agency Proxy Voting

Last verified: January 22, 2026

Key Terms

corporation retirement commission shareholder stock pension university

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 6901.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References