Bill Sponsor
California Assembly Bill 2908
Session 20232024
Shareholders' meetings: remote communication.
Active
Active
Passed Assembly on Apr 15, 2024
First Action
Feb 15, 2024
Latest Action
Apr 15, 2024
Origin Chamber
Assembly
Type
Bill
Bill Number
2908
State
California
Session
20232024
Sponsorship by Party
Republican
Author
Assembly Votes (2)
Summary
Existing law, the General Corporation Law, authorizes corporations not governed by other specified state laws to conduct a meeting of shareholders by electronic transmission by and to the corporation, electronic video screen communication, conference telephone, or other means of remote communication if the corporation implements reasonable measures to provide shareholders and proxyholders a reasonable opportunity to participate and vote, among other conditions. Existing law authorizes a corporation to conduct a meeting by means of electronic communication in the absence of consent of all shareholders, on or before December 31, 2025, if the meeting includes a live audiovisual feed for the duration of the meeting. This bill would delete the above-described deadline of December 31, 2025, thereby making this provision operative indefinitely. Existing law regulates the formation and operation of a nonprofit public benefit corporation, nonprofit mutual benefit corporation, nonprofit religious corporation, or cooperative corporation. Existing law also authorizes these corporations to conduct a meeting by means of electronic communication in the absence of consent from all members, on or before December 31, 2025, if the meeting includes a live audiovisual feed for the duration of the meeting. This bill would delete the December 31, 2025, deadline in each of these provisions, thereby making them operative indefinitely.
Actions (7)
04/15/2024
Senate
In Senate. Read first time. To Com. on RLS. for assignment.
04/15/2024
Assembly
Read third time. Passed. Ordered to the Senate. (Ayes 73. Noes 0.)
04/03/2024
Assembly
Read second time. Ordered to third reading.
04/02/2024
Assembly
From committee: Do pass. (Ayes 8. Noes 0.) (April 1).
03/11/2024
Assembly
Referred to Com. on B. & F.
02/16/2024
Assembly
From printer. May be heard in committee March 17.
02/15/2024
Assembly
Read first time. To print.
Sources
Record Created
Feb 16, 2024 9:22:55 PM
Record Updated
Apr 16, 2024 12:22:55 PM