assembly Bill A737

Signed By Governor
2015-2016 Legislative Session

Relates to the applicability of provisions relating to liability of shareholders for wages due to laborers, servants or employees for certain foreign corporations

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 20, 2015 approval memo.7
signed chap.421
Nov 10, 2015 delivered to governor
May 27, 2015 returned to assembly
passed senate
substituted for s4476
Mar 30, 2015 referred to corporations, authorities and commissions
delivered to senate
passed assembly
Mar 27, 2015 advanced to third reading cal.131
Mar 24, 2015 reported
Mar 03, 2015 reported referred to codes
Jan 07, 2015 referred to corporations, authorities and commissions

A737 (ACTIVE) - Details

See Senate Version of this Bill:
S4476
Law Section:
Business Corporation Law
Laws Affected:
Amd ยง630, BC L
Versions Introduced in 2013-2014 Legislative Session:
A6932

A737 (ACTIVE) - Summary

Relates to the applicability of provisions relating to liability of shareholders for wages due to laborers, servants or employees for certain foreign corporations.

A737 (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   737

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 7, 2015
                               ___________

Introduced  by M. of A. STECK -- read once and referred to the Committee
  on Corporations, Authorities and Commissions

AN ACT to amend the business corporation law, in relation to the  appli-
  cability of provisions relating to liability of shareholders for wages
  due  to  laborers,  servants  or  employees for certain foreign corpo-
  rations

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraph  (a) of section 630 of the business corporation
law, as amended by chapter 212 of the laws of 1984, is amended  to  read
as follows:
  (a) The  ten  largest shareholders, as determined by the fair value of
their beneficial interest as of the beginning of the period during which
the unpaid services referred to in this section are performed, of  every
DOMESTIC  corporation  (other  than  an investment company registered as
such under an act  of  congress  entitled  "Investment  Company  Act  of
1940"),  OR  OF  ANY  FOREIGN CORPORATION, WHEN THE UNPAID SERVICES WERE
PERFORMED IN THE STATE, no shares of which  are  listed  on  a  national
securities exchange or regularly quoted in an over-the-counter market by
one  or  more  members of a national or an affiliated securities associ-
ation, shall jointly and severally be personally liable for  all  debts,
wages  or  salaries  due  and  owing to any of its laborers, servants or
employees other than contractors, for services  performed  by  them  for
such  corporation. Before such laborer, servant or employee shall charge
such shareholder for such services, he shall give notice in  writing  to
such  shareholder that he intends to hold him liable under this section.
Such notice shall be given within one  hundred  and  eighty  days  after
termination  of  such  services, except that if, within such period, the
laborer, servant or employee demands an examination  of  the  record  of
shareholders  under  paragraph  (b)  of  section 624 (Books and records;
right of inspection, prima facie evidence) OF THIS ARTICLE, such  notice

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04400-01-5