Connecticut Seal

General Assembly

Amendment

 

February Session, 2014

LCO No. 4716

   
 

*SB0002304716SRO*

Offered by:

 

SEN. FRANTZ, 36th Dist.

 

To: Subst. Senate Bill No. 23

File No. 603

Cal. No. 397

"AN ACT CONCERNING BENEFIT CORPORATIONS AND ENCOURAGING SOCIAL ENTERPRISE. "

Strike lines 60 to 79, inclusive, and insert the following in lieu thereof:

"(11) "Minimum status vote" means a vote in which, in addition to any other approval or vote required by chapter 601 of the general statutes, the certificate of incorporation or the bylaws of the benefit corporation:

(A) The holders of shares of every class or series that are entitled to vote on the corporate action shall be entitled to vote as a class on the corporate action; and

(B) The corporate action must be approved by vote of the shareholders of each class or series entitled to cast at least eighty per cent of the votes that all shareholders of the class or series are entitled to cast thereon. "