SECTIONS 6900-6901 - California Statutes

GOVERNMENT CODE

SECTION 6900-6901

6900. Whenever any governmental body is a shareholder of any
corporation, and a resolution is before the shareholders which will
permit or authorize cumulative voting for directors, such
governmental body shall vote its shares to permit or authorize
cumulative voting.
As used in this section the term "governmental body" means the
state, and any office, department, division, bureau, board,
commission or agency thereof, and all counties, cities, districts,
public authorities, public agencies and other political subdivisions
or public corporations in the state.

6901. Notwithstanding any other provision of the law, every state
agency owning common stock shall, when returning proxies to a
corporation, vote each proxy that is returned to the corporation.
Nothing in this section shall prohibit a state agency owning common
stock from abstaining on a corporate or shareholder proposal and
notifying the corporation in writing of the state agency's desire to
abstain on a corporate or shareholder proposal.
As used in this section "state agency" includes the state, the
University of California, and any office, department, division,
bureau, board, commission, agency, or pension or retirement system
thereof.