Connecticut Seal

General Assembly

Amendment

 

February Session, 2014

LCO No. 5137

   
 

*SB0002305137SRO*

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

In line 183, strike "Any such amendment shall be"

Strike line 184 in its entirety

Strike lines 185 to 194, inclusive, in their entirety

In line 195, strike "(c)" and insert "(b)" in lieu thereof

In line 202, strike "," and insert ". " in lieu thereof

Strike lines 203 and 204 in their entirety

Strike lines 205 to 209, inclusive, in their entirety

In line 210, strike "approved by a minimum status vote. " and insert "(c)" in lieu thereof

In line 215, strike "," and insert ". " in lieu thereof

Strike line 216 in its entirety