HB 6590 Summary

• Allows shareholders to participate in meetings by remote communication if the board of directors authorizes it, with reasonable verification measures and opportunity to vote and communicate substantially concurrent with proceedings.

• Permits the board of directors to fix separate record dates for determining shareholders entitled to notice versus those entitled to vote at shareholders' meetings.

• Expands electronic communication provisions to allow notices and consents to be delivered by electronic transmission with sender and recipient consent, and defines electronic records and signatures more broadly.

• Requires corporations to prepare separate shareholder lists for notice and voting when different record dates are fixed, with inspection rights for shareholders.

• Modifies appraisal rights provisions to clarify when shareholders lose appraisal rights for certain covered securities and reorganizations, effective October 1, 2011.