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DIVISION 1.6. DEPOSITORY CORPORATIONS—SALE, MERGER, AND CONVERSION 4800-4966›CHAPTER 1. General Provisions 4800-4828.7›ARTICLE 3. Other General Provisions 4820-4828.7

§ 4822

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

(a) References in this division to the voting of the shares of a California state depository corporation shall be construed in accordance with Section 111 of the Corporations Code.

(b) If the articles of a California state depository corporation provide for more or less than one vote for any share on any matter that is subject to this division, the references in Sections 139 and 141 (which are made applicable to this division by Section 4805.01) to a majority or other proportion of shares mean, as to the matter, a majority or other proportion of the votes entitled to be cast.

(c) Whenever shares of a California state depository corporation are disqualified under any applicable law from voting on any matter that is subject to this division, the shares 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, the matter.

(Amended by Stats. 2013, Ch. 334, Sec. 51. (SB 537) Effective January 1, 2014.)

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California Financial Code

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