California Financial Code Section 120

Legal Research Home > California Lawyer > Financial Code > California Financial Code Section 120

If the articles of a bank provide for more or less than one
vote for any share on any matter, the references in Sections 123 and
124 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 or this division, 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, or of the articles or
bylaws.

Last modified: July 31, 2008