HB20-1013
Specify Procedure Ratify Defective Corporate Actions
| Type | Bill |
|---|---|
| Session | 2020 Regular Session |
| Subjects |
Concerning the specification of procedures for the ratification of defective corporate actions.
Bill Summary:
The act provides a statutory procedure for the ratification or validation of corporate actions that may not have been properly authorized and for shares that may not have been properly issued. The statutory ratification procedure supplements common-law ratification and is available only when the board of directors specifies the nature of the defective authorization. Prompt judicial review and validation of the ratification process is available when a listed person claims to be substantially and adversely affected by the ratification.
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 20-1013 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 5-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 20-1013 to the Committee of the Whole. | The motion passed on a vote of 10-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/03/2020 | Third Reading | BILL |
33
AYE
0
NO
2
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 02/12/2020 | Third Reading | BILL |
63
AYE
0
NO
2
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 03/20/2020 | Governor | Governor Signed |
| 03/16/2020 | Governor | Sent to the Governor |
| 03/14/2020 | House | Signed by the Speaker of the House |
| 03/14/2020 | Senate | Signed by the President of the Senate |
| 03/03/2020 | Senate | Senate Third Reading Passed - No Amendments |
| 03/02/2020 | Senate | Senate Second Reading Passed - No Amendments |
| 02/26/2020 | Senate | Senate Committee on Business, Labor, & Technology Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 02/13/2020 | Senate | Introduced In Senate - Assigned to Business, Labor, & Technology |
| 02/12/2020 | House | House Third Reading Passed - No Amendments |
| 02/11/2020 | House | House Third Reading Laid Over Daily - No Amendments |
| 02/10/2020 | House | House Second Reading Passed - No Amendments |
| 02/04/2020 | House | House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole |
| 01/08/2020 | House | Introduced In House - Assigned to Business Affairs & Labor |
Prime Sponsor
Sponsor
(None)
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 09/14/2020 | 39 | Specify Procedure Ratify Defective Corp Actions |