Existing law authorizes and regulates the formation and operation of a corporation, nonprofit mutual benefit corporation, or cooperative corporation. Existing law authorizes meetings of shareholders or members to be held at any place as stated or fixed in the bylaws, and provides that shareholders or members not physically present may participate in a meeting, be deemed present, and vote by electronic transmission by and to the corporation, electronic video screen communication, conference telephone, or other means of remote communication. Existing law prohibits conducting a meeting of shareholders or members solely by electronic transmission, electronic video screen communication, conference telephone, or other remote communications unless all of the shareholders or members consent or the board determines it is necessary or appropriate because of an emergency, as defined.

This bill would amend Corporations Code 7510 to authorize shareholders or members to also conduct a meeting of shareholders or members solely by electronic transmission by and to the corporation, electronic video screen communication, conference telephone, or other means of remote communication if the meeting is conducted on or before June 30, 2022.

This bill would declare that it is to take effect immediately as an urgency statute.