Legislation

Title: Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
Sponsored by: Delegate Kramer
Status: Approved by the Governor - Chapter 171
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Clarifying that the director of a corporation must act in good faith, in a manner the director reasonably believes to be in the best interests of the corporation, and with the care that an ordinarily prudent person in a similar position would use under similar circumstances; clarifying that a director who acts in accordance with a specified provision of law shall have specified immunity from liability; etc.

Committees

Original:: Economic Matters Click to view Recorded Media

Opposite:: Judicial Proceedings

Details

Cross-filed with: SB0148

Introduced in a prior session as: HB0521 Session: 2015 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2016

History

Legislation History
Chamber House Calendar Date 1/26/2016 Legislative Date 1/27/2016 Action First Reading Economic Matters Proceedings
Chamber House Calendar Date 1/27/2016 Legislative Date 1/27/2016 Action Hearing 2/03 at 2:00 p.m. Proceedings
Chamber House Calendar Date 2/08/2016 Legislative Date 2/09/2016 Action Favorable with Amendments Report by Economic Matters Proceedings
Chamber House Calendar Date 2/10/2016 Legislative Date 2/10/2016 Action Favorable with Amendments {793692/1 Report Adopted Proceedings 21
Chamber House Calendar Date 2/10/2016 Legislative Date 2/10/2016 Action Second Reading Passed with Amendments Proceedings 21
Chamber House Calendar Date 2/16/2016 Legislative Date 2/16/2016 Action Third Reading Passed (136-0) Proceedings 25
Chamber Senate Calendar Date 2/17/2016 Legislative Date 2/17/2016 Action First Reading Judicial Proceedings Proceedings 25
Chamber Senate Calendar Date 3/31/2016 Legislative Date 4/04/2016 Action Favorable Report by Judicial Proceedings Proceedings
Chamber Senate Calendar Date 4/01/2016 Legislative Date 3/28/2016 Action Favorable Report Adopted Proceedings 57
Chamber Senate Calendar Date 4/01/2016 Legislative Date 3/28/2016 Action Second Reading Passed Proceedings 57
Chamber Senate Calendar Date 4/04/2016 Legislative Date 3/29/2016 Action Third Reading Passed (45-0) Proceedings 58
Chamber House Calendar Date 4/05/2016 Legislative Date 3/29/2016 Action Returned Passed Proceedings 61
Chamber Post Passage Calendar Date 4/26/2016 Legislative Date 4/26/2016 Action Approved by the Governor - Chapter 171 Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/26/2016	1/27/2016	First Reading Economic Matters
House	1/27/2016	1/27/2016	Hearing 2/03 at 2:00 p.m.
House	2/08/2016	2/09/2016	Favorable with Amendments Report by Economic Matters
House	2/10/2016	2/10/2016	Favorable with Amendments {793692/1 Report Adopted	21
House	2/10/2016	2/10/2016	Second Reading Passed with Amendments	21
House	2/16/2016	2/16/2016	Third Reading Passed (136-0)	25
Senate	2/17/2016	2/17/2016	First Reading Judicial Proceedings	25
Senate	3/31/2016	4/04/2016	Favorable Report by Judicial Proceedings
Senate	4/01/2016	3/28/2016	Favorable Report Adopted	57
Senate	4/01/2016	3/28/2016	Second Reading Passed	57
Senate	4/04/2016	3/29/2016	Third Reading Passed (45-0)	58
House	4/05/2016	3/29/2016	Returned Passed	61
Post Passage	4/26/2016	4/26/2016	Approved by the Governor - Chapter 171

Documents

Date Posted	Document Name
2/10/2016	Amendments House - (Economic Matters) {793692/01 Adopted
1/27/2016	Text - First - Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
2/10/2016	Text - Third - Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
5/16/2016	Text - Chapter - Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
2/08/2016	Vote - House - Committee - Economic Matters
4/01/2016	Vote - Senate - Committee - Judicial Proceedings
2/16/2016	Vote - House Floor - Third Reading Passed (136-0) - 02/16/16
3/29/2016	Vote - Senate Floor - Third Reading Passed (45-0) - 03/29/16

File Code

Subjects

Statutes