HOUSE BILL 1440

File Code: Corporations and Associations

Sponsored By:

Delegates Schisler and Arnick

Entitled:

Corporations - Investment Companies - Directors

Synopsis:

Providing that a director of a corporation that is an investment company who is not an interested person with respect to the corporation shall be deemed to be independent and disinterested when making any determination or taking any action as a director; and providing for the application and construction of the Act.

History by Legislative Date

House Action

4/3

First Reading Economic Matters

Motion Rules Suspended for late introduction (Delegate Schisler) Adopted (115-2)

Motion Rules Suspended Re-referred Economic Matters (Delegate Hurson) Adopted (130-2)

4/8

Favorable with Amendments Report by Economic Matters

4/5

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

4/6

Third Reading Passed (125-2)

Senate Action

4/7

First Reading Senate Rules

Sponsored by:

Delegate Kenneth D. Schisler, District 37B

Delegate John S. Arnick, District 7

Bill indexed under the following Subjects:

CORPORATIONS -see also- MUNICIPAL CORPORATIONS

ETHICS

INVESTMENTS -see also- SECURITIES

Bill affects the following Statutes:

Corporations and Associations

( 2-405.3 , 2-405.3 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments:

House

Number: 683793/1 (PDF)     Offered on: April 8, 2000   at: 11:20 a.m.     Status: Adopted

Roll Call Votes (Legislative dates are shown):

House

April 3, 2000: Motion Rules Suspended for late introduction (Schisler) Adopted (115-2)

April 3, 2000: Motion Rules Suspended Re-referred Economic Matters (Hurson) Adopted (130-2)

April 6, 2000: Third Reading Passed (125-2)