Legislation
SECTION 6018
Cumulative voting
Banking (BNK) CHAPTER 2, ARTICLE 15, TITLE 6
§ 6018. Cumulative voting. The organization certificate of any
corporation may provide that in all elections of directors of such
corporation each stockholder shall be entitled to as many votes as shall
equal the number of votes which, except for such provisions as to
cumulative voting, he would be entitled to cast for the election of
directors with respect to his shares multiplied by the number of
directors to be elected, and that he may cast all of such votes for a
single director or may distribute them among the number to be voted for,
or any two or more of them, as he may see fit, which right, when
exercised, shall be termed cumulative voting.
corporation may provide that in all elections of directors of such
corporation each stockholder shall be entitled to as many votes as shall
equal the number of votes which, except for such provisions as to
cumulative voting, he would be entitled to cast for the election of
directors with respect to his shares multiplied by the number of
directors to be elected, and that he may cast all of such votes for a
single director or may distribute them among the number to be voted for,
or any two or more of them, as he may see fit, which right, when
exercised, shall be termed cumulative voting.