Relating to permissible corporate action when a shareholder fails to comply with public disclosure laws; and declaring an emergency.
Catchline/Summary:
Permits corporation with shares that are registered under securities law of this state or under federal securities law to reject vote, consent, waiver or proxy authorization if shareholder has not complied with certain public disclosure requirements of securities law . Permits corporation with shares that are registered under securities law of this state or under federal securities law to reject vote, consent, waiver or proxy authorization if shareholder has not complied with certain public disclosure requirements of securities law of this state or federal securities law].
Requires corporation that rejects vote, consent, waiver or proxy authorization to do so for each shareholder that fails to comply with disclosure requirements. Prevents corporation from rejecting vote, consent, waiver or proxy authorization after shareholder complies with disclosure requirements.
Declares emergency, effective on passage.
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HB 4058
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