The California legislature approved Senate Bill 218, which amends the California Corporations Code (CCC) to adopt provisions to enable corporate ratifications. Below, we've provided you a general reference list of corporate actions that require Board approval, stockholder approval, or both.A requirement that grants be made out of treasury shares or repurchased shares will not alleviate these additional shareholder approval requirements. Los Angeles, CA 90067. The Secretary of State does not issue corporate seals. It is these shares of stock that designate ownership in a corporation. Can a company's CEO buy stock for himself in the company without any shareholders' approval?