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Senate Bill 1971 |
Senate Author: Hancock |
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Effective: 9-1-19 |
House Sponsor: Martinez Fischer |
Senate Bill 1971 amends the Business Organizations Code to revise, update, and clarify certain provisions with respect to domestic corporations and other domestic entities. Among other provisions, the bill includes provisions relating to a written voting agreement, the rights of dissent and appraisal of an ownership interest, an exception to the required notice of redemption of redeemable shares, shareholder approval of a ratified defective corporate act and related notice requirements, and certain matters regarding meetings of the members of a nonprofit corporation, the corporation's board of directors, or any committee designated by the board.