HB23-1297
Prohibit Corporation Issuing Scrip In Bearer Form
Concerning prohibiting a corporation from issuing a scrip in bearer form upon the holder surrendering enough scrip to equal a full share.
Session:
2023 Regular Session
Subject:
Bill Summary
Business & Economic Development
In conformance with federal law, the act repeals the allowance for a corporation to issue a scrip in bearer form upon the holder surrendering enough scrip to equal a full share.
APPROVED by Governor June 7, 2023
EFFECTIVE August 7, 2023
NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)