Atlas · Governance
Minimum participation to request multiple voting in the election of directors is 10% of voting capital
AnswerIt is optional for shareholders who represent at least 10% of voting capital to request the adoption of the multiple voting process for the election of board members.
Reviewed on 2026-10-02 · next review 2027-04-02
Data
| Who | Criterion | Consequence | Source | Data |
|---|---|---|---|---|
| Shareholders | Represent at least 10% of voting capital | May request adoption of multiple voting process in election of directors | Law 6.404/1976, art. 141 | 18/08/2021 |
Data consulted on 02/10/2026.
Basis
- Law No. 6.404/1976, compiled (Planalto, in Portuguese): Art. 141 establishes shareholders' option to request multiple voting for the election of the board of directors.
- Decree No. 9.580/2018 (Planalto, in Portuguese): addresses the income tax regulation, without provisions on multiple voting quorum in companies.
How it applies
The right to multiple voting can be exercised by shareholders who hold at least 10% of the voting capital. This process allows the number of votes per share to be multiplied by the number of board seats to be filled. The shareholder may then accumulate the votes on a single candidate or distribute them among several. Adoption of this procedure is independent of any provision in the company’s bylaws.
Limits
- The option to exercise multiple voting must be expressed by shareholders up to 48 hours before the general meeting.
- This card does not cover specific quorums for other types of corporate deliberations, such as statutory reforms or election of the audit committee.
- The information is based on current legislation according to the file of Law 6.404/1976; subsequent changes should be checked directly at the official Planalto source.