Bill No.: HB0016                  Drafter:  KMS

 

LSO No.:  05LSO-0269              Effective Date:  7/1/2005

 

Enrolled Act No.:  HEA0018

 

Chapter No.:       51

 

Prime Sponsor:     Representative Pedersen

 

Catch Title:       Corporation-electronic meetings.

 

Subject:  Allows for business corporations to meet electronically.

 

 

 

Summary/Major Elements:

 

·        Gives corporate boards of directors' discretion to determine if a meeting will be held by means of remote communication.

 

·        Corporations shall implement reasonable measures to provide for the stockholders and proxies a reasonable opportunity to participate in meetings held electronically. 

 

·        The board shall take into consideration stockholders' ability to participate by remote communication.

 

·        Authorizes numerous corporate actions to be conducted electronically, including notices of meetings, waivers of notice, and resignation of directors.