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CA AB2281
Bill
Status
Introduced
2/18/2010
Primary Sponsor
Jeff Miller
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AI Summary
- Allows publicly traded corporations and foreign corporations to satisfy state reporting requirements by including information already disclosed under federal Securities Exchange Commission rules instead of duplicating disclosures
- Modifies the auditor services disclosure requirement to cover only the two most recently completed fiscal years, removing the period between fiscal year end and statement filing date
- Changes the director loan disclosure requirement to cover loans made during the two most recent fiscal years, removing the specification that loans must be at below-market interest rates
- Revises the legal proceedings disclosure to require reporting of final judgments entered during the fiscal years covered by the statement rather than the five preceding years
- Requires the Secretary of State to provide public online database access to all information contained in these corporate disclosure statements
Legislative Description
Corporate disclosures.
Last Action
In committee: Set, first hearing. Hearing canceled at the request of author.
5/3/2010
Committee Referrals
Banking and Finance3/11/2010
Full Bill Text
No bill text available