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2009 SESSION
HB 1964 Banking institutions; reclassification or conversion of shares of stock.
Introduced by: Christopher B. Saxman | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Banking institutions; reclassification or conversion of shares. Authorizes a bank, savings institution, bank holding company, savings and loan holding company, or multiple or diversified savings and loan holding company organized as a stock corporation to reclassify or convert a portion of its issued and outstanding shares of common stock into a class or series of preferred stock for the purpose of ceasing to be, or avoiding the status of, an institution that is required to file periodic reports under provisions of the Securities Exchange Act of 1934, if authorized by its articles of incorporation and the reclassified or converted shares continue to be part of the equity capital of the corporation. Such a reclassification or conversion is exempt from appraisal rights provisions of the Stock Corporation Act if the institution's directors recommend the approval, the shareholders approve the amendment, all shares are reclassified or converted on the same terms, and articles of amendment are filed. SB 884 is identical.
FULL TEXT
- 01/13/09 House: Prefiled and ordered printed; offered 01/14/09 091179712 pdf | impact statement
- 01/21/09 House: Committee substitute printed 090152712-H1 pdf | impact statement
- 02/24/09 House: Bill text as passed House and Senate (HB1964ER) pdf | impact statement
- 03/27/09 Governor: Acts of Assembly Chapter text (CHAP0356) pdf
HISTORY
- 01/13/09 House: Prefiled and ordered printed; offered 01/14/09 091179712
- 01/13/09 House: Referred to Committee on Commerce and Labor
- 01/20/09 House: Reported from Commerce and Labor with substitute (20-Y 0-N)
- 01/21/09 House: Committee substitute printed 090152712-H1
- 01/22/09 House: Read first time
- 01/23/09 House: Read second time
- 01/23/09 House: Committee substitute agreed to 090152712-H1
- 01/23/09 House: Engrossed by House - committee substitute HB1964H1
- 01/26/09 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 01/26/09 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 01/27/09 Senate: Constitutional reading dispensed
- 01/27/09 Senate: Referred to Committee on Commerce and Labor
- 02/16/09 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/18/09 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/19/09 Senate: Read third time
- 02/19/09 Senate: Passed Senate (40-Y 0-N)
- 02/24/09 House: Enrolled
- 02/24/09 House: Bill text as passed House and Senate (HB1964ER)
- 02/25/09 House: Signed by Speaker
- 02/27/09 Senate: Signed by President
- 03/27/09 Governor: Approved by Governor-Chapter 356 (effective 7/1/09)
- 03/27/09 Governor: Acts of Assembly Chapter text (CHAP0356)