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1997 SESSION
HB 2408 Corporations; articles of incorporation, voting rights.
Introduced by: W. Tayloe Murphy, Jr. | all patrons ... notes | add to my profiles
SUMMARY:
Corporations; amendments to articles of incorporation; voting rights. Confirms that a corporation and its shareholders may agree in articles of incorporation to give different classes or series of shares voting rights as separate voting groups with respect to any proposed amendment of the articles. This result is permitted even if these classes or series would be affected in the same way by that amendment.
The bill also confirms that shares convertible into another class or series are not automatically permitted to vote on proposed changes in the terms of the underlying class or series. The bill stipulates that this voting privilege must be contained in the articles of incorporation.
FULL TEXT
- 01/20/97 House: Presented & ordered printed 970601376 pdf
- 02/26/97 House: Bill text as passed House and Senate (HB2408ER) pdf
- 03/19/97 Governor: Acts of Assembly Chapter text (CHAP0400) pdf
HISTORY
- 01/20/97 House: Presented & ordered printed 970601376
- 01/20/97 House: Referred to Committee on Corporations, Insurance and Banking
- 01/30/97 House: Reported from Corp., Ins. & Banking (21-Y 0-N)
- 01/31/97 House: Read first time
- 02/01/97 House: Read second time and engrossed
- 02/02/97 House: Read third time and passed House (Block Vote) (100-Y 0-N)
- 02/02/97 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/02/97 House: Communicated to Senate
- 02/03/97 Senate: Constitutional reading dispensed (36-Y 4-N)
- 02/03/97 Senate: Referred to Committee on Commerce and Labor
- 02/17/97 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/18/97 Senate: Const. reading disp., passed by for the day (39-Y 0-N)
- 02/18/97 Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
- 02/19/97 Senate: Read third time
- 02/19/97 Senate: Passed Senate (39-Y 0-N)
- 02/19/97 Senate: VOTE: PASSAGE (39-Y 0-N)
- 02/26/97 House: Bill text as passed House and Senate (HB2408ER)
- 03/07/97 House: Enrolled
- 03/07/97 House: Signed by Speaker
- 03/08/97 Senate: Signed by President
- 03/15/97 Governor: Approved by Governor-Chapter 400 (effective 7/1/97)
- 03/19/97 Governor: Acts of Assembly Chapter text (CHAP0400)