§ 100 Member Director Nomination Rules
This law says that big retail companies with at least one million members are not subject to the usual rules for changing directors.
A large clothing store that has more than a million members wants to change who sits on its board of directors.
The store's members can sign a petition to call a vote at the next director election. They need a number of signatures that matches the company's bylaws, or if the bylaws don't set a number, the directors decide how many are needed. Members can vote in person or by proxy if the company allows proxies.
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§ 100 Member Director Nomination Rules
Last verified: January 10, 2026