SENATE BILL 264

CHAPTER NUMBER: 31 File Code: Corporations and Associations Crossfiled with: HOUSE BILL 1045

Sponsored By:

Senator Jimeno

Entitled:

Investment Companies - Directors

Synopsis:

Validating, by repealing and reenacting without amendments, Section 2 of Chapter 397 of the Acts of the General Assembly of 1998, which provided that specified directors of specified investment companies shall be deemed to be independent and disinterested for purposes of performing their duties; restating Section 3 of Chapter 397 of 1998 providing for the retroactive application of Section 2; and stating the intent of the General Assembly to validate the enactment of Sections 2 and 3 of Chapter 397 of 1998.

History by Legislative Date

Senate Action

1/26

First Reading Judicial Proceedings

2/7

Hearing 2/14 at 1:00 p.m.

2/27

Favorable Report by Judicial Proceedings

2/28

Favorable Report Adopted

Floor Amendment (Senator Frosh)

Laid Over (Senator Frosh) Adopted

3/1

Floor Amendment (Senator Frosh) Withdrawn

Floor Amendment (Senator Frosh) Rejected (22-24)

Second Reading Passed

3/6

Third Reading Passed (35-12)

4/3

Returned Passed

4/10

Signed by the Governor Chapter 31

House Action

3/6

First Reading Economic Matters

3/21

Hearing 3/28 at 1:00 p.m.

4/5

Favorable Report by Economic Matters

3/31

Favorable Report Adopted

Second Reading Passed

4/2

Third Reading Passed (133-1)

Bill indexed under the following Subjects:

CORPORATIONS -see also- MUNICIPAL CORPORATIONS

CURATIVE LEGISLATION

ETHICS

INVESTMENTS -see also- SECURITIES

Documents:

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

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 533423/1 (PDF)     Offered on: March 1, 2001   at: 10:36 a.m.     Status: Withdrawn

Number: 823025/1 (PDF)     Offered on: March 1, 2001   at: 10:44 a.m.     Status: Rejected

Roll Call Votes (Legislative dates are shown):

Senate

March 1, 2001: Floor Amendment (Frosh) {823025/1 Rejected (22-24)

March 6, 2001: Third Reading Passed (35-12)

House

April 2, 2001: Third Reading Passed (133-1)