HOUSE BILL 1116

Sponsored By:

Delegate Frank

Entitled:

Corporations - Directors - Terms

Synopsis:

Providing that the initial directors of a corporation serve until their successors are elected; repealing the requirement that the initial directors term ends at the first annual meeting; and providing that if directors have been divided into classes the director may not be removed without cause.

Legislative History

House Action

2/6

First Reading Economic Matters

2/12

Hearing 3/12 at 1:00 p.m.

3/18

Favorable Report by Economic Matters

Favorable Report Adopted

Second Reading Passed

3/20

Third Reading Passed (138-0)

3/31

Returned Passed

5/22

Signed by the Governor Chapter 720

Senate Action

3/21

First Reading Judicial Proceedings

Hearing 3/26 at 1:00 p.m.

4/3

Favorable Report by Judicial Proceedings

Favorable Report Adopted

Second Reading Passed

4/4

Third Reading Passed (47-0)

Bill indexed under the following Subject:

CORPORATIONS -see also- MERGERS

Bill affects the following Statutes:

Corporations and Associations

( 2-104 , 2-404 , 2-406 )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)