HOUSE BILL 21

File Code: Corporations and Associations

Sponsored By:

Delegate Arnick

Entitled:

Corporations and Associations - Derivative Actions

Synopsis:

Prohibiting a stockholder of a corporation from commencing a stockholder's derivative action until a written demand has been made on the corporation to take suitable action and a specified number of days have expired from the date the demand was made; providing exceptions to the requirement to wait a specified number of days before commencing a stockholder's derivative action; requiring a court to dismiss a derivative action brought by a stockholder under specified circumstances; etc.

History by Legislative Date

House Action

08/17

Pre-filed

1/9

First Reading Economic Matters

2/8

Hearing 2/28 at 1:00 p.m.

2/19

Hearing cancelled

2/25

Withdrawn

Senate Action

No Action

Bill indexed under the following Subjects:

CIVIL ACTIONS -see also- SMALL CLAIMS

CORPORATIONS -see also- MUNICIPAL CORPORATIONS

LIMITED LIABILITY COMPANIES

PARTNERSHIPS

SECURITIES

Bill affects the following Statutes:

Corporations and Associations

( 2-515 , 4A-801 , 4A-803 , 10-1001 , 10-1003 )

Documents:

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

Fiscal Note: Not available at this time

Amendments: None offered