§ 2792.18. Reasonable Arrangements--Members' Voting Rights.
10 CA ADC § 2792.18Barclays Official California Code of Regulations
10 CCR § 2792.18
§ 2792.18. Reasonable Arrangements--Members' Voting Rights.
(a) With the exception of those Associations which have two classes of voting membership, a member of an Association, including an Association which provides for unequal assessments against the subdivision interests, shall be entitled to one vote for each subdivision interest owned. If a subdivision interest is owned by more than one person, each such person shall be a member of the Association, but there shall be no more than one vote for each subdivision interest.
(c) With the exception of Section 2792.4, no regulation which requires the approval of a prescribed majority of the voting power of members of the Association other than the subdivider for action to be taken by the Association is intended to preclude the subdivider from casting votes attributable to subdivision interest which he or she owns. Governing instruments may specify either or both of the following for approval of action for which a regulation of the Bureau--other than Section 2792.4--requires the approval of a prescribed majority of the voting power of members of the Association other than the subdivider:
(2) In those Associations in which a single class of voting membership exists, either as originally established or after the conversion of Class B to Class A shares, the vote or written assent of a bare majority of the total voting power of the Association as well as the vote or written assent of a prescribed majority of the total voting power of members other than the subdivider.
Credits
Note: Authority cited: Sections 10080 and 11001, Business and Professions Code. Reference: Section 11018.5, Business and Professions Code.
History
1. New section filed 1-16-76; effective thirtieth day thereafter (Register 76, No. 3).
2. Amendment filed 2-10-77; effective thirtieth day thereafter (Register 77, No. 7).
3. Amendment of subsection (e)(4) filed 1-17-80; effective thirtieth day thereafter (Register 80, No. 3).
4. Amendment filed 1-7-81; effective thirtieth day thereafter (Register 81, No. 2).
5. Amendment of subsections (a) and (b) filed 4-2-86; effective thirtieth day thereafter (Register 86, No. 14).
6. Amendment of subsections (b)(3)(B), (b)(4)(A)-(B) and (c) filed 4-7-92; operative 5-7-92 (Register 92, No. 14).
7. Amendment of subsections (b)(3)(B), (4)(A), (4)(B) and Note filed 11-8-93; operative 12-8-93 (Register 93, No. 46).
8. Change without regulatory effect amending subsection (c) filed 6-30-2014 pursuant to section 100, title 1, California Code of Regulations (Register 2014, No. 27).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 10, § 2792.18, 10 CA ADC § 2792.18
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