Legislation

Title: Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
Sponsored by: Senator Feldman
Status: Approved by the Governor - Chapter 170
Analysis: Fiscal and Policy Note (Revised)

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 the standard of conduct provided by a specified provision of law shall have specified immunity from liability; etc.

Committees

Original:: Judicial Proceedings Click to view Recorded Media

Opposite:: Economic Matters

Details

Cross-filed with: HB0354

Introduced in a prior session as: SB0459 Session: 2015 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2016

History

Legislation History
Chamber Senate Calendar Date 1/14/2016 Legislative Date 1/15/2016 Action First Reading Judicial Proceedings Proceedings
Chamber Senate Calendar Date 1/15/2016 Legislative Date 1/15/2016 Action Hearing 1/27 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 3/04/2016 Legislative Date 3/07/2016 Action Favorable with Amendments Report by Judicial Proceedings Proceedings
Chamber Senate Calendar Date 3/08/2016 Legislative Date 3/08/2016 Action Favorable with Amendments {728472/1 Report Adopted Proceedings 39
Chamber Senate Calendar Date 3/08/2016 Legislative Date 3/08/2016 Action Second Reading Passed with Amendments Proceedings 39
Chamber Senate Calendar Date 3/10/2016 Legislative Date 3/10/2016 Action Third Reading Passed (46-0) Proceedings 41
Chamber House Calendar Date 3/11/2016 Legislative Date 3/11/2016 Action First Reading Economic Matters Proceedings 43
Chamber House Calendar Date 4/07/2016 Legislative Date 4/08/2016 Action Favorable Report by Economic Matters Proceedings
Chamber House Calendar Date 4/08/2016 Legislative Date 4/02/2016 Action Favorable Report Adopted Proceedings 65
Chamber House Calendar Date 4/08/2016 Legislative Date 4/02/2016 Action Second Reading Passed Proceedings 65
Chamber House Calendar Date 4/09/2016 Legislative Date 4/04/2016 Action Third Reading Passed (134-0) Proceedings 67
Chamber Senate Calendar Date 4/11/2016 Legislative Date 4/03/2016 Action Returned Passed Proceedings 63A
Chamber Post Passage Calendar Date 4/26/2016 Legislative Date 4/26/2016 Action Approved by the Governor - Chapter 170 Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	1/14/2016	1/15/2016	First Reading Judicial Proceedings
Senate	1/15/2016	1/15/2016	Hearing 1/27 at 1:00 p.m.
Senate	3/04/2016	3/07/2016	Favorable with Amendments Report by Judicial Proceedings
Senate	3/08/2016	3/08/2016	Favorable with Amendments {728472/1 Report Adopted	39
Senate	3/08/2016	3/08/2016	Second Reading Passed with Amendments	39
Senate	3/10/2016	3/10/2016	Third Reading Passed (46-0)	41
House	3/11/2016	3/11/2016	First Reading Economic Matters	43
House	4/07/2016	4/08/2016	Favorable Report by Economic Matters
House	4/08/2016	4/02/2016	Favorable Report Adopted	65
House	4/08/2016	4/02/2016	Second Reading Passed	65
House	4/09/2016	4/04/2016	Third Reading Passed (134-0)	67
Senate	4/11/2016	4/03/2016	Returned Passed	63A
Post Passage	4/26/2016	4/26/2016	Approved by the Governor - Chapter 170

Documents

Date Posted	Document Name
3/08/2016	Amendments Senate - (Judicial Proceedings) {728472/01 Adopted
1/15/2016	Text - First - Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability
3/08/2016	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
3/04/2016	Vote - Senate - Committee - Judicial Proceedings
4/08/2016	Vote - House - Committee - Economic Matters
3/10/2016	Vote - Senate Floor - Third Reading Passed (46-0) - 03/10/16
4/04/2016	Vote - House Floor - Third Reading Passed (134-0) - 04/04/16

File Code

Subjects

Statutes