Cal. Fin. Code § 133

Current through the 2023 Legislative Session.
Section 133 - References to majority if articles provide for more or less than one vote for share

If the articles of a bank provide for more or less than one vote for any share on any matter, the references in Sections 139 and 141 to a majority or other proportion of shares means, as to such matter, a majority or other proportion of the votes entitled to be cast. Whenever, under Division 1 (commencing with Section 100), Title 1 of the Corporations Code, this division, or Division 1.1 (commencing with Section 1000), shares are disqualified from voting on any matter, they shall not be considered outstanding for the determination of a quorum at any meeting to act upon, or the required vote to approve action upon, such matter under any provision of Division 1 (commencing with Section 100), Title 1 of the Corporations Code, of this division, Division 1.1 (commencing with Section 1000), or of the articles or bylaws.

Ca. Fin. Code § 133

Amended by Stats 2013 ch 334 (SB 537),s 9, eff. 1/1/2014.
Added by Stats 2011 ch 243 (SB 664),s 2, eff. 1/1/2012.