Connecticut Seal

General Assembly

Amendment

 

February Session, 2014

LCO No. 5115

   
 

*SB0002305115SRO*

Offered by:

 

SEN. FASANO, 34th 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 68, inclusive, and insert the following in lieu thereof:

"(11) "Minimum status vote" means (A) in the case of a business corporation, 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: (i) 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 (ii) the corporate action must be approved by vote of the shareholders of each class or series entitled to cast at least three-fourths of the votes that all shareholders of the class or series are entitled to cast thereon; and"

In line 78, strike "two-thirds" and insert "three-fourths" in lieu thereof