Corp. Code, § 5036 · Part 1. GENERAL PROVISIONS AND DEFINITIONS GOVERNING PARTS 1 THROUGH 5
Corp. Code, § 5036
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Except as provided in subdivision (b) or (c), “authorized number” means 5 percent of the voting power.
(b) Where (disregarding any provision for cumulative voting which would otherwise apply) the total number of votes entitled to be cast for a director is 1,000 or more, but less than 5,000 the authorized number shall be 2 1/2 percent of the voting power, but not less than 50.
(c) Where (disregarding any provision for cumulative voting which would otherwise apply) the total number of votes entitled to be cast for a director is 5,000 or more, the authorized number shall be one-twentieth of 1 percent of the voting power, but not less than 125.
(d) Any right under Part 2, Part 3, or Part 4 which may be exercised by the authorized number, or some multiple thereof, may be exercised by a member with written authorizations obtained within any 11-month period from members who, in the aggregate, hold the equivalent voting power. Any such authorization shall specify the right to be exercised thereunder and the duration thereof (which shall not exceed three years).
(e) Where any provision of Part 2, Part 3, or Part 4 specifies twice the authorized number, that means two times the number calculated according to subdivision (a), (b) or (c).
Notes and commentary — not statutory text
History
Amended by Stats. 1979, Ch. 724.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CORP§ionNum=5036.
- Text hash
- sha256 e4436b34bc768dc87f42d9fb239f5d776a79b11d25df5b0b4921dabff8575e0d
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
- printed fractions are shown as 1/4
Cited by 12 provisions
Provisions in this library whose text cites Corp. Code, § 5036. Each shows the citation as that text prints it.
Corporations Code
- Corp. Code, § 5223Printed as Section 5036
- Corp. Code, § 5710Printed as Section 5036
- Corp. Code, § 6331Printed as Section 5036
- Corp. Code, § 6510Printed as Section 5036
- Corp. Code, § 6614Printed as Section 5036
- Corp. Code, § 7223Printed as Section 5036
- Corp. Code, § 7710Printed as Section 5036
- Corp. Code, § 8331Printed as Section 5036
- Corp. Code, § 8614Printed as Section 5036
- Corp. Code, § 9141Printed as Section 5036
- Corp. Code, § 9223Printed as Section 5036
- Corp. Code, § 9680Printed as Section 5036
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.