California Corporations Code

§ 12482

CORP § 12482 Effective Jan 1, 2017Div. 3 · Title 1 · Part 2 · Ch. 6

Statute text

Unless otherwise provided in the articles or bylaws, if a membership stands of record in the names of two or more persons, whether fiduciaries, members of a partnership, joint tenants, tenants in common, spouses as community property, tenants by the entirety, persons entitled to vote under a voting agreement or otherwise, or if two or more persons have the same fiduciary relationship respecting the same membership, unless the secretary of the corporation is given written notice to the contrary and is furnished with a copy of the instrument or order appointing them or creating the relationship wherein it is so provided, their acts with respect to voting shall have the following effect:

(a)If only one vote, such act binds all; or

(b)If more than one vote, the act of the majority so voting binds all.

Legislative history

Amended by Stats. 2016, Ch. 50, Sec. 24. (SB 1005) Effective January 1, 2017.