A voting right is the right of a shareholder of a corporation to vote on matters of corporate policy. The voting procedures of board directors determine how they make decisions.Shareholders typically have the right to vote in elections for the board of directors and on proposed operational alterations. Defending Your Shareholder Rights: A Legal Perspective, Discover the legal framework surrounding shareholder rights. But unlike shareholders, members do not have a pecuniary interest in a nonprofit corporation. One fact is sure: a nonprofit's bylaws are considered a legal document that dictates how the organization must be governed.