AB 2908: Shareholders’ meetings: remote communication.

Existing law, the General Corporation Law, authorizes corporations not governed by other specified state laws to conduct a meeting of shareholders by electronic transmission by and to the corporation, electronic video screen communication, conference telephone, or other means of remote communication if the corporation implements reasonable measures to provide shareholders and proxyholders a reasonable opportunity to participate and vote, among other conditions. Existing law authorizes a corporation to conduct a meeting by means of electronic communication in the absence of consent of all shareholders, on or before December 31, 2025, if the meeting includes a live audiovisual feed for the duration of the meeting.

This bill would delete the above-described deadline of December 31, 2025, thereby making this provision operative indefinitely.

Existing law regulates the formation and operation of a nonprofit public benefit corporation, nonprofit mutual benefit corporation, nonprofit religious corporation, or cooperative corporation. Existing law also authorizes these corporations to conduct a meeting by means of electronic communication in the absence of consent from all members, on or before December 31, 2025, if the meeting includes a live audiovisual feed for the duration of the meeting.

This bill would delete the December 31, 2025, deadline in each of these provisions, thereby making them operative indefinitely.