SENATE BILL 696

Sponsored By:

Senator Gladden

Entitled:

Maryland General Corporation Law - Altering and Updating Corporate Procedures and Miscellaneous Provisions

Synopsis:

Repealing a provision of law requiring a corporation to give specified written notice of the amount, time, and place of payment on subscriptions for stock to each subscriber; repealing a specified provision of law requiring that a call by the board of directors for payment on subscriptions be uniform as to all stock of the same class; clarifying that stockholders of a corporation formed on or after October 1, 1995, do not have specified preemptive rights unless the charter expressly grants the rights; etc.

History by Legislative and Calendar Date

Senate Action

2/1

First Reading Judicial Proceedings

2/6

Hearing 2/21 at 1:00 p.m.

3/10

Favorable Report by Judicial Proceedings

3/11

Favorable Report Adopted

Second Reading Passed

3/13

Third Reading Passed (45-0)

3/30

Returned Passed

House Action

3/14

First Reading Economic Matters

3/17

Hearing 3/27 at 1:00 p.m.

3/31

Favorable Report by Economic Matters

3/26

Favorable Report Adopted

Second Reading Passed

3/27

Third Reading Passed (138-0)

Action after passage in Senate and House

5/22

Vetoed by the Governor (Duplicative)

Bill indexed under the following Subjects:

Charters

Committees and Commissions -see also- Political Committees

Corporations -see also- Municipal Corps; Public Corps & Inst

Disclosure

Liability -see also- Good Samaritan

Mergers and Acquisitions

Notices

Securities

Bill affects the following Statutes:

Corporations and Associations

( 2-202 , 2-205 , 2-210 , 2-418 , 2-406 , 2-411 , 2-501 , 2-505 , 2-506 , 3-109 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered

Roll Call Votes (Legislative dates are shown):

Senate

March 13, 2008: Third Reading Passed (45-0)

House

March 27, 2008: Third Reading Passed (138-0)