Atlas · Governance
The maximum limit for plural voting is 10 votes per common share
AnswerThe creation of classes of common shares with plural voting is allowed, provided the allocation does not exceed 10 (ten) votes per common share, observing the legal conditions set for closed and open companies.
Reviewed on 2026-10-02 · next review 2027-04-02
Data
| Quem | Critério | Consequência | Fonte | Data do dado |
|---|---|---|---|---|
| Companhia | Criação de classes de ações ordinárias | Atribuição de voto plural limitada a 10 votos por ação | Lei 6.404/1976, art. 110-A | 03/09/2021 |
Data consulted on 02/10/2026.
Basis
- Lei n.º 6.404/1976, compilada (Planalto, in Portuguese): o artigo 110-A estabelece o limite de até 10 votos por ação ordinária para classes com voto plural e define as exigências para sua aplicação em companhias fechadas e abertas.
How it applies
Plural voting is permitted for both closed and open companies. For open companies, the class must be created obligatorily before the start of trading of shares or securities convertible into shares on organized markets. The decision to create the class requires a qualified quorum, depending on the favorable vote of shareholders representing at least half of the total votes of voting shares and, if there are preferred shares without voting rights or with restricted voting, half of those in a special meeting. Plural voting does not apply to votes on remuneration of directors or transactions with related parties defined by the CVM.
Limits
- The sheet does not cover cases of automatic conversion of plural‑vote shares into ordinary shares without plural voting (e.g., transfer to third parties or shareholders' agreement for joint voting exercise).
- It does not include specific operational restrictions for open companies that do not adopt plural voting in incorporation, merger, or spin‑off processes.
- Amendments after Law 14.195/2021 or new CVM regulations must be checked in the official source.