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CS/CS/SB 1198: Corporate Actions

GENERAL BILL by Rules ; Commerce and Tourism ; Martin

Corporate Actions; Providing that a defective corporate action is not void or voidable in certain circumstances; requiring the board of directors to take certain action to ratify a defective corporate action; providing quorum and voting requirements for the ratification of certain defective corporate actions; requiring that notice be given to shareholders of certain corporate action taken by the board of directors; providing that notice is not required for holders of certain shares whose identities or addresses for notice cannot be determined, etc.

Effective Date: 7/1/2024
Last Action: 6/26/2024 - Chapter No. 2024-265
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Rules (RC)



Bill History

Date Chamber Action
1/3/2024 Senate • Filed
1/8/2024 Senate • Referred to Commerce and Tourism; Rules
1/9/2024 Senate • Introduced
1/18/2024 Senate • On Committee agenda-- Commerce and Tourism, 01/23/24, 1:00 pm, 110 Senate Building
1/23/2024 Senate • CS by Commerce and Tourism; YEAS 5 NAYS 0
1/24/2024 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
• CS by Commerce and Tourism read 1st time
1/25/2024 Senate • Now in Rules
2/5/2024 Senate • On Committee agenda-- Rules, 02/08/24, 8:30 am, 412 Knott Building
2/8/2024 Senate • CS/CS by- Rules; YEAS 20 NAYS 0
2/9/2024 Senate • Pending reference review -under Rule 4.7(2) - (Committee Substitute)
• Placed on Calendar, on 2nd reading
• Placed on Special Order Calendar, 02/14/24
2/13/2024 Senate • CS/CS by Rules read 1st time
2/14/2024 Senate • Read 2nd time -SJ 390
• Read 3rd time -SJ 390
• CS passed; YEAS 39 NAYS 0 -SJ 390
• Immediately certified -SJ 391
2/14/2024 House • In Messages
3/1/2024 House • Bill referred to House Calendar
• Bill added to Special Order Calendar (3/4/2024)
• 1st Reading (Committee Substitute 2)
3/4/2024 House • Read 2nd time
• Placed on 3rd reading
• Added to Third Reading Calendar
3/5/2024 House • Read 3rd time
• CS passed; YEAS 114, NAYS 0
3/5/2024 Senate • Ordered enrolled
6/17/2024 • Signed by Officers and presented to Governor
6/25/2024 • Approved by Governor
6/26/2024 • Chapter No. 2024-265