HB 757 (2012) -  Benefit Corporations

by Clemens (CO-SPONSORS) Kriseman
Provides for organization of benefit corporations; provides for existing corporations to become benefit corporations; authorizes corporation to terminate its status as benefit corporation; requires corporate purposes set forth in articles of incorporation of benefit corporation to include certain public benefits; authorizes benefit corporations to set forth certain public benefit purposes in their bylaws; authorizes board of directors of benefit corporation to adopt certain public benefit purposes for corporation; prescribes certain standards of conduct for, & limits liability of, directors of benefit corporations; limits liability of officers of benefit corporation; authorizes benefit corporation to bring enforcement actions for certain claims against directors & officers of corporation; provides for commencement & maintenance of proceedings; requires benefit corporation to submit an annual benefit report to DOS & corporation's shareholders; provides for public disclosure of annual benefit reports.
Effective Date: upon becoming a law
Last Event: Died in Business & Consumer Affairs Subcommittee on Friday, March 9, 2012 11:59 PM

Related Bills

Staff Analysis

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Vote History

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Bill History

Event Time Member Committee Ver.
Event: H Died in Business & Consumer Affairs Subcommittee Time: 03/09/2012 - 11:59 PM Member: Committee: Business & Consumer Affairs Subcommittee Version: __
Event: H 1st Reading Time: 01/10/2012 - 11:59 PM Member: Committee: Version: __
Event: H Now in Business & Consumer Affairs Subcommittee Time: 11/29/2011 - 9:37 AM Member: Committee: Business & Consumer Affairs Subcommittee Version: __
Event: H Referred to Economic Affairs Committee Time: 11/29/2011 - 9:37 AM Member: Committee: Economic Affairs Committee Version: __
Event: H Referred to Rulemaking & Regulation Subcommittee Time: 11/29/2011 - 9:37 AM Member: Committee: Rulemaking & Regulation Subcommittee Version: __
Event: H Referred to Civil Justice Subcommittee Time: 11/29/2011 - 9:37 AM Member: Committee: Civil Justice Subcommittee Version: __
Event: H Referred to Business & Consumer Affairs Subcommittee Time: 11/29/2011 - 9:37 AM Member: Committee: Business & Consumer Affairs Subcommittee Version: __
Event: H Filed Time: 11/22/2011 - 11:11 AM Member: Clemens Committee: Version: __