Bill No.: HB0009                  Drafter:  LGC

LSO No.:  07LSO-0155              Effective Date:  7/1/2007

Enrolled Act No.:  HEA0007

Chapter No.:       19

Prime Sponsor:     Joint Corporations, Elections and Political Subdivisions Interim Committee

Catch Title:       Corporations-bearer shares.

Subject:            Corporations share certificate requirements.

Summary/Major Elements:

· The act prohibits corporations from issuing shares in bearer form, i.e., a form in which the certificate is payable to the bearer of the certificate without endorsement.

· The act requires corporations to conform any shares outstanding by October 1, 2007.