Loading chat...

CA AB2908

Bill

Status

Passed

7/18/2024

Primary Sponsor

Phillip Chen

Click for details

Origin

State Assembly

2023-2024 Session

AI Summary

  • Removes the December 31, 2025 deadline for corporations to conduct shareholder meetings solely by electronic means without all shareholder consent, provided the meeting includes a live audiovisual feed for the duration of the meeting.

  • Extends the same indefinite authorization for nonprofit public benefit corporations, nonprofit mutual benefit corporations, nonprofit religious corporations, and cooperative corporations to hold member meetings remotely with live audiovisual feed.

  • Permits remote meetings to offer both audiovisual and audio-only participation options at the member's choice, without barriers to either mode.

  • Allows corporations to continue remote meetings with de minimis disruptions of audio or audiovisual feeds without requiring termination of the meeting.

  • Applies amendments to Corporations Code Sections 600, 5510, 7510, 9411, and 12460 to make remote meeting provisions permanent rather than temporary.

Legislative Description

Shareholders’ meetings: remote communication.

Last Action

Chaptered by Secretary of State - Chapter 157, Statutes of 2024.

7/18/2024

Committee Referrals

Judiciary6/20/2024
Banking and Financial Institutions5/1/2024
Rules4/15/2024
Banking and Finance3/11/2024

Full Bill Text

No bill text available