SB 1208 -- ARTICLES OF INCORPORATION FOR CORPORATIONS

SPONSOR:  Koster (Pratt)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Judiciary by a vote of 11 to 0.

This bill allows a company's board of directors to present a
resolution directly to the shareholders for adoption without
passage of the resolution by the board of directors.

FISCAL NOTE:  No impact on state funds in FY 2007, FY 2008, and
FY 2009.

PROPONENTS:  Supporters say that the bill changes the laws to
reflect current practices by corporate boards of directors.  It
is currently a common understanding in corporate law that boards
can present resolutions directly to the shareholders without
prior board approval.

Testifying for the bill was Senator Koster.

OPPONENTS:  There was no opposition voiced to the committee.

Alex Curchin, Legislative Analyst

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:47 am