Business / Taxes / Cumulative Voting: With this method of voting for a corporation's board of directors, you may cast the total number of votes you're entitled to any way you choose. Generally, you receive one for each share of company stock you own times the number of directors to be elected. For example, you can either split your votes equally among the nominees, or you can cast all of them for a single candidate. Cumulative voting is designed to give individual stockholders greater influence in shaping the board. They can designate all their votes for a single candidate who represents their interest instead of spreading their votes equally among the candidates, as is the case with statutory voting.
Business / Finance / Statutory Voting: The surplus of an insurance company determined by the accounting treatment of both assets and liabilities as established by state statutes. MORE
Business / Finance / Majority Voting: Voting system under which corporate shareholders vote for each director separately. Related: Cumulative voting. MORE