2009 Regular Session

HOUSE BILL 378

CHAPTER NUMBER: 296
File Code: Corporations and Associations Crossfiled with: SENATE BILL 626
Sponsored By:
Delegate Feldman
Entitled:
Corporations - Corporate Documents, Distributions, Fractional Shares, and Redemption of Stock

Synopsis:

Repealing the requirement that the original or a certified copy of the bylaws of a corporation, including amendments, be kept at the corporation's principal office; authorizing a corporation to eliminate fractional shares of stock by rounding up, but not down, to a full share; increasing the amount of the aggregate net asset value of shares that a corporation may redeem from a stockholder under specified circumstances; authorizing a corporation to make distributions from net earnings under specified circumstances; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
House Action
2/2
First Reading Economic Matters
2/4
Hearing 2/11 at 1:00 p.m.
2/17
Favorable with Amendments Report by Economic Matters
2/18
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
2/20
Third Reading Passed (136-0)
4/8
House Concur - Senate Amendments
Third Reading Passed (136-0)
Passed Enrolled
Senate Action
2/23
First Reading Judicial Proceedings
3/20
Hearing 3/31 at 1:00 p.m.
4/9
Favorable with Amendments Report by Judicial Proceedings
4/5
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/6
Third Reading Passed with Amendments (45-0)
Action after passage in House and Senate
5/7
Approved by the Governor
- Chapter 296

Bill indexed under the following Subjects:

Corporations -see also- Municipal Corps; Public Corps & Inst
Disclosure
Records -see also- Land Records; Vital Records
Reports
Securities

Bill affects the following Statutes:

Corporations and Associations
( 2-110 , 2-214 , 2-308 , 2-310.1 , 2-311 , 2-313 , 2-510 , 2-512 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled, Chapter
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments (Displayed in PDF Format):
House
Number: 383192/01     Offered on: February 18, 2009   at: 10:13 a.m.     Status: Adopted
Senate
Number: 718373/01     Offered on: April 9, 2009   at: 12:28 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
February 20, 2009: Third Reading Passed (136-0)
April 8, 2009: Third Reading Passed (136-0)
Senate
April 6, 2009: Third Reading Passed (45-0)