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Senate Bill 1568 |
Senate Author: Estes |
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Effective: 9-1-11 |
House Sponsor: Elkins |
Senate Bill 1568 amends the Business Organizations Code to remove the provision prohibiting statutory provisions governing fundamental business transactions of for-profit corporations and mergers, interest exchanges, conversions, and sales of assets from being construed to limit or terminate a shareholder's standing to institute or maintain a derivative proceeding on behalf of a corporation after a merger.