Legislation

Title: Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
Sponsored by: Delegate Kramer
Status: In the Senate - First Reading Judicial Proceedings
Analysis: Fiscal and Policy Note

Synopsis

Clarifying the duties of a director of a corporation and that the director 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: SB0459

Bill File Type: Regular

Effective Date(s): October 1, 2015

History

Legislation History
Chamber House Calendar Date 2/10/2015 Legislative Date 2/11/2015 Action First Reading Economic Matters Proceedings
Chamber House Calendar Date 2/10/2015 Legislative Date 2/10/2015 Action Hearing 2/25 at 1:00 p.m. Proceedings
Chamber House Calendar Date 3/12/2015 Legislative Date 3/13/2015 Action Favorable Report by Economic Matters Proceedings
Chamber House Calendar Date 3/16/2015 Legislative Date 3/13/2015 Action Favorable Report Adopted Proceedings 43A
Chamber House Calendar Date 3/16/2015 Legislative Date 3/13/2015 Action Second Reading Passed Proceedings 43A
Chamber House Calendar Date 3/17/2015 Legislative Date 3/14/2015 Action Third Reading Passed (140-0) Proceedings 44
Chamber Senate Calendar Date 3/18/2015 Legislative Date 3/18/2015 Action First Reading Judicial Proceedings Proceedings 45

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/10/2015	2/11/2015	First Reading Economic Matters
House	2/10/2015	2/10/2015	Hearing 2/25 at 1:00 p.m.
House	3/12/2015	3/13/2015	Favorable Report by Economic Matters
House	3/16/2015	3/13/2015	Favorable Report Adopted	43A
House	3/16/2015	3/13/2015	Second Reading Passed	43A
House	3/17/2015	3/14/2015	Third Reading Passed (140-0)	44
Senate	3/18/2015	3/18/2015	First Reading Judicial Proceedings	45

Documents

Date Posted	Document Name
2/11/2015	Text - First - Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
3/17/2015	Text - Third - Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
3/13/2015	Vote - House - Committee - Economic Matters
3/14/2015	Vote - House Floor - Third Reading Passed (140-0) - 03/14/15

File Code

Subjects

Statutes