|
Senate Bill 1969 |
Senate Author: Hancock |
|
Effective: 9-1-19 |
House Sponsor: Martinez Fischer |
Senate Bill 1969 amends the Business Organizations Code to establish a process by which the board of directors of a domestic nonprofit corporation may ratify a defective corporate act taken by the corporation. The bill also authorizes an action to be brought in an applicable district court regarding the validity of a defective corporate act by certain affected persons and sets out provisions relating to such an action, including provisions regarding court proceedings and the jurisdiction to hear and determine the action.