Document dated Apr. 4, 2025, was received on May 16, 2025, due to a fixed feed.
Legislative Provisions
Board committees may consist of one or more directors; corporate boards, committee members, may appoint another director act in place of absent or disqualified member.
Limitations on corporate board committee actions regarding amending articles of incorporation, approving plan of merger not requiring shareholder approval removed.
Shares or other securities considered authorized to be issued if board authorizes the corporation to issue rights, options, warrants for purchase of such shares, securities.
Clarified former holders of shares exchanged in share exchange transaction entitled only to rights provided to them in the plan of share exchange or as dissenters' rights.
Conversion of WAS corp to another entity not foreign corp trigger dissenters' rights.
Dissolution proposal approved if percentage of shareholders entitled to vote on the proposal and each other voting group entitled to vote approve the dissolution
Unless article of incorporation requires different vote for corps formed before Aug. 1, 2024, two-thirds of shareholders; and on or after Aug. 1, 2024, shareholder majority.
Legislative History
On Dec. 30, 2025, bill introduced into Senate; on Feb. 5, 2025, bill passed Senate.
On Feb. 7, 2025, bill introduced into House; on Mar. 26, 2025, bill passed House.
On Apr. 1, 2025, bill delivered to governor; on Apr. 4, 2025, governor signed, Ch 4.
