California Probate Code 9655 – With respect to a share of stock of a domestic or foreign corporation …
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With respect to a share of stock of a domestic or foreign corporation held in the estate, a membership in a nonprofit corporation held in the estate, or other property held in the estate, a personal representative may do any one or more of the following:
(a) Vote in person, and give proxies to exercise, any voting rights with respect to the share, membership, or other property.
Terms Used In California Probate Code 9655
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
- Personal representative: means executor, administrator, administrator with the will annexed, special administrator, successor personal representative, public administrator acting pursuant to Section 7660, or a person who performs substantially the same function under the law of another jurisdiction governing the person's status. See California Probate Code 58
- Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
(b) Waive notice of a meeting or give consent to the holding of a meeting.
(c) Authorize, ratify, approve, or confirm any action which could be taken by shareholders, members, or property owners.
(Enacted by Stats. 1990, Ch. 79.)