 |
|
|
Fall is here and the foliage here in Vermont has erupted into a riot of color. The view out my office window is beautiful.
It’s a slow, post-summer recess legislation season so far, probably due to the coming mid-term elections. Two states, Michigan and Pennsylvania, have introduced legislation to authorize Public Benefit Corporations. The rest of the action is in New Jersey where four Bills have been introduced making changes to their business entity laws.
I’m sure things will be more active in November.
Robert K. Rowell
General Counsel
California
SB 1244
Employment: taxes and contributions: limited liability company. An act to amend Sections 621 and 13009 of, and to add Sections 623 and 928.7 to, the Unemployment Insurance Code, relating to employment taxes, and making an appropriation therefore.
Full Text available here.
Current Bill Satus: September 29, 2010, chaptered by the Secretary of State as Chapter 522, Statues of 2010
Michigan
HB 6454
Business corporations; to authorize triple benefit and public benefit corporations. A bill to amend 1972 PA 284, entitled "Business corporation act," by amending sections 106, 108, 109, 202, 211, 541a, and 821 (MCL 450.1106, 450.1108, 450.1109, 450.1202, 450.1211, 450.1541a, and 450.1821), section 106 as amended by 2006 PA 68, sections 108, 202, and 821 as amended and section 541a as added by 1989 PA 121, section 109 as amended by 1993 PA 91, and section 211 as amended by 2008 PA 402.
Full Text available here.
Current Bill Status: September 16, 2010, referred to the Committee on New Economy and Quality of Life
New Jersey
AB 3251
Allows certain business combinations between resident domestic corporations and interested stockholders.
Full Text available here.
Current Bill Status: September 30, 2010, introduced, referred to Assembly Commerce and Economic Development Committee.
AB 3252
An Act concerning corporation proxy solicitation materials and supplementing Chapter 5 of Title 14A of the New Jersey Statutes.
Full Text available here.
Current Bill Status: September 30, 2010, introduced, referred to Assembly Commerce and Economic Development Committee.
AB 3253
An Act concerning the general powers of a corporation and amending N.J.S.14A:3-1. Provides corporations with right to renounce corporate opportunity doctrine.
Full text available here.
Current Bill Status: September 30, 2010, introduced, referred to Assembly Commerce and Economic Development Committee.
AB 3254
An Act concerning indemnification of certain corporate directors and officers and amending N.J.S.14A:3-5.
Full text available here.
Current Bill Status: September 30, 2010, introduced, referred to Assembly Commerce and Economic Development Committee.
AB 3296
An Act concerning health service corporations and supplementing P.L.2001, c.131 (C.17:48E-49 et seq.). Establishes moratorium on conversion of health service corporation to domestic stock insurer.
Full text available here.
Current Bill Status: October 7, 2010, introduced, referred to Assembly Financial Institutions and Insurance Committee.
SB 2266
Requires each nonprofit corporation operating in the State that accepts State funds to hold quarterly board meetings that include time for public participation.
Full text available here.
Current Bill Status: September 20, 2010, introduced in the Senate, referred to Senate Commerce Committee.
Pennsylvania
HB 2745
An Act amending Title 15 (Corporations and Unincorporated Associations) of the Pennsylvania Consolidated Statutes, in domestic business corporation ancillaries, providing for benefit corporations.
Full text available here.
Current Bill Status: Sept. 22, 2010, referred to Commerce Committee.
|
|
