senate Bill S4476

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 Via A737 - Signed by Governor


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

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Actions

view actions (11)
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
May 27, 2015 substituted by a737
May 18, 2015 advanced to third reading
May 13, 2015 2nd report cal.
May 12, 2015 1st report cal.658
Mar 23, 2015 referred to corporations, authorities and commissions

Votes

view votes

May 11, 2015 - Corporations, Authorities and Commissions committee Vote

S4476
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Corporations, Authorities and Commissions committee vote details

Corporations, Authorities and Commissions Committee Vote: May 11, 2015

S4476 (ACTIVE) - Details

See Assembly Version of this Bill:
A737
Law Section:
Business Corporation Law
Laws Affected:
Amd ยง630, BC L
Versions Introduced in 2013-2014 Legislative Session:
A6932

S4476 (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.

S4476 (ACTIVE) - Sponsor Memo

S4476 (ACTIVE) - Bill Text download pdf

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

                                  4476

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             March 23, 2015
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed 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;

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

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