Definitions for "Statutory Voting"
System in which shareholders voting for the board of directors may not give more than one vote per share to any single nominee. see also cumulative voting, proportional representation, common-law voting.
The standard rule in most corporations that there is one vote per share in elections of the board of directors.
A means by which a stockholder is given the right to cast one vote for each share owned in favor or against each of a number of proposals or director/nominees at a formal meeting convened by the corporation.