cumulative voting Definition
cumulative voting
noun
a system of voting, as in some corporate and legislative elections, in which each voter is allowed as many votes as there are offices to be filled and may freely allocate them among the candidates, even by giving all the votes to one candidate
cumulative voting Finance Definition
A voting system that lets shareholders give all their
votes to one candidate for the board of directors, which gives minority
shareholders more power. In contrast, in regular or statutory voting,
shareholders may not cast more than one vote per share to any single nominee.
For example, in an election for four directors, a shareholder with 500 shares
has one vote per share. Under the regular method, the shareholder could vote a
maximum of 500 shares for each of four candidates. Under cumulative voting,
however, the shareholder could choose to vote all 2,000 votes for one candidate,
1,000 each to two candidates, or otherwise divide his or her votes.
cumulative voting Law Definition
See voting.
cumulative voting Usage Examples
Converse of object
term: This right, when exercised, shall be termed cumulative voting.
Preposition: for
election: Lastly, the Articles of Incorporation may provide for cumulative voting for the elections of members to the board of directors.
Browse dictionary entries near cumulative voting
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