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Senate Bill 0383


 

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Senate Bill 0383

ARCHIVE (2003)

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DIGEST OF SB 383 (Updated April 24, 2003 9:12 PM - DI 108)

Shareholder consent, entity conversion, and funding agreements. For a corporation not registered under the Security and Exchange Act of 1934, permits controlling shareholders to authorize a corporate action by their written consent without prior notice or meeting if subsequent notice is provided to nonconsenting and nonvoting shareholders. Allows for the use of electronic as well as written consents. Permits the conversion of a domestic other entity, such as a limited partnership or limited liability company, to a different domestic other entity. Permits the conversion of a foreign other entity to a different foreign other entity.
    Current Status:
     Law Enacted
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