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2018 SESSION
HB 1559 Action without a meeting; articles of incorporation of a public corporation.
Introduced by: Israel D. O'Quinn | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Stock corporations; action by shareholders without meeting. Creates an exception to the provision that authorizes shareholders of a corporation to act without a meeting by less than unanimous written consent of the shareholders. The exception states that if the articles of incorporation or bylaws of a public corporation allow the holders of 30 percent or fewer of all votes entitled to be cast to demand the calling of a special meeting of shareholders, such provision authorizing less-than-unanimous shareholder action shall not apply. A public corporation is a corporation that has shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association. The measure does not apply if a public corporation's articles of incorporation authorized action by shareholders by less than unanimous consent as of April 1, 2018. This bill is identical to SB 974.
FULL TEXT
- 01/19/18 House: Presented and ordered printed 18105548D pdf
- 02/02/18 House: Printed as engrossed 18105548D-E pdf | impact statement
- 02/26/18 House: Bill text as passed House and Senate (HB1559ER) pdf | impact statement
- 03/09/18 Governor: Acts of Assembly Chapter text (CHAP0267) pdf
AMENDMENTS
HISTORY
- 01/19/18 House: Presented and ordered printed 18105548D
- 01/19/18 House: Referred to Committee on Commerce and Labor
- 01/30/18 House: Reported from Commerce and Labor with amendments (22-Y 0-N)
- 02/01/18 House: Read first time
- 02/02/18 House: Read second time
- 02/02/18 House: Committee amendments agreed to
- 02/02/18 House: Engrossed by House as amended HB1559E
- 02/02/18 House: Printed as engrossed 18105548D-E
- 02/05/18 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 02/05/18 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/06/18 Senate: Constitutional reading dispensed
- 02/06/18 Senate: Referred to Committee on Commerce and Labor
- 02/19/18 Senate: Reported from Commerce and Labor (11-Y 0-N)
- 02/21/18 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/22/18 Senate: Read third time
- 02/22/18 Senate: Passed Senate (40-Y 0-N)
- 02/26/18 House: Enrolled
- 02/26/18 House: Bill text as passed House and Senate (HB1559ER)
- 02/26/18 House: Signed by Speaker
- 02/28/18 Senate: Signed by President
- 03/02/18 House: Enrolled Bill communicated to Governor on March 2, 2018
- 03/02/18 Governor: Governor's Action Deadline Midnight, March 9, 2018
- 03/09/18 Governor: Approved by Governor-Chapter 267 (effective 7/1/18)
- 03/09/18 Governor: Acts of Assembly Chapter text (CHAP0267)