Substitute for Raised H.B. No. 7340
Session Year 2019
 


AN ACT CONCERNING THE USE OF VEIL PIERCING TO DETERMINE THE PERSONAL RESPONSIBILITY OF AN INTEREST HOLDER OF A DOMESTIC ENTITY FOR THE DEBTS, OBLIGATIONS OR OTHER LIABILITIES OF SUCH ENTITY AND THE RESPONSIBILITY OF A DOMESTIC ENTITY FOR THE DEBTS, OBLIGATIONS OR OTHER LIABILITIES OF AN INTEREST HOLDER OF SUCH ENTITY.

To codify the common law use of the instrumentality test when making determinations as to (1) the liability of the shareholders of a corporation for the act or debts of the corporation, and (2) the liability of the members or managers of a limited liability company for the debts, obligations or other liability of the limited liability company.

Introduced by:
Judiciary Committee

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Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 7/9/2019Signed by the Governor
 6/28/2019Transmitted by Secretary of the State to Governor
 6/28/2019Transmitted to the Secretary of State
 6/25/2019(LCO)Public Act 19-181
 6/5/2019On Consent Calendar / In Concurrence
 6/5/2019Senate Passed as Amended by House Amendment Schedule A
 6/5/2019Senate Adopted House Amendment Schedule A
 5/16/2019(LCO)File Number 907
 5/16/2019Senate Calendar Number 496
 5/16/2019Favorable Report, Tabled for the Calendar, Senate
 5/14/2019House Passed as Amended by House Amendment Schedule A
 5/14/2019House Adopted House Amendment Schedule A 7835
 4/25/2019(LCO)File Number 784
 4/25/2019House Calendar Number 492
 4/25/2019Favorable Report, Tabled for the Calendar, House
 4/25/2019(LCO)Reported Out of Legislative Commissioners' Office
 4/18/2019(LCO)Referred to Office of Legislative Research and Office of Fiscal Analysis 04/24/19 5:00 PM
 4/10/2019(LCO)Filed with Legislative Commissioners' Office
 4/8/2019(JUD)Joint Favorable Substitute
 3/11/2019Public Hearing 03/15
 3/8/2019Referred to Joint Committee on Judiciary

Co-sponsors of HB-7340

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