Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jun 17, 2020 | signed chap.122 |
Jun 05, 2020 | delivered to governor |
May 27, 2020 | returned to senate passed assembly ordered to third reading rules cal.46 substituted for a10498a referred to corporations, authorities and commissions delivered to assembly passed senate ordered to third reading cal.663 |
May 26, 2020 | reported and committed to rules |
May 24, 2020 | referred to corporations, authorities and commissions |
senate Bill S8412
Signed By GovernorSponsored By
Brian A. Benjamin
(D) 0 Senate District
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
Actions
Votes
Co-Sponsors
David Carlucci
(D) 0 Senate District
Leroy Comrie
(D) 14th Senate District
Brad Hoylman-Sigal
(D, WF) 47th Senate District
Todd Kaminsky
(D) 0 Senate District
S8412 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10498
- Law Section:
- Business Corporation Law
- Laws Affected:
- Amd §§708 & 602, BC L; amd §§603 & 605, N-PC L; add §28, Rel Corp L
S8412 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8412 Revised 5/27/2020 SPONSOR: BENJAMIN TITLE OF BILL: An act to amend the business corporation law, the not-for-profit corpo- ration law, and the religious corporations law, in relation to providing for the remote conduct of certain practices and procedures relating to board meetings; and providing for the repeal of such provisions upon the expiration thereof PURPOSE OR GENERAL IDEA OF BILL: This bill would explicitly allow not-for-profit corporations, religious institutions, and cooperatives to hold meetings of shareholders, members, trustees, etc., through remote communications to the extent the board of that organization authorizes that participation. SUMMARY OF PROVISIONS: Section 1. Paragraph (b) of section 708 of the business corporation law
S8412 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8412 I N S E N A T E May 24, 2020 ___________ Introduced by Sen. BENJAMIN -- 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, the not-for-profit corpo- ration law, and the religious corporations law, in relation to provid- ing for the remote conduct of certain practices and procedures relat- ing to board meetings; and providing for the repeal of such provisions upon the expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of section 708 of the business corporation law, as amended by chapter 296 of the laws of 1977, is amended to read as follows: (b) Unless otherwise restricted by the certificate of incorporation or the by-laws, any action required or permitted to be taken by the board or any committee thereof may be taken without a meeting if all members of the board or the committee consent in writing to the adoption of a resolution authorizing the action. The resolution and the written consents thereto by the members of the board or committee shall be filed with the minutes of the proceedings of the board or committee. FOR THE DURATION OF THE STATE DISASTER EMERGENCY DECLARED BY EXECUTIVE ORDER TWO HUNDRED TWO THAT BEGAN ON MARCH SEVENTH, TWO THOUSAND TWENTY, NOTWITH- STANDING ANY PROVISION OF LAW TO THE CONTRARY, THE WRITTEN CONSENT OF A MEMBER MAY BE MADE ELECTRONICALLY, WHERE SUCH CONSENT IS SUBMITTED VIA ELECTRONIC MAIL ALONG WITH INFORMATION FROM WHICH IT CAN BE REASONABLY DETERMINED THAT THE TRANSMISSION WAS AUTHORIZED BY SUCH MEMBER. § 2. Paragraph (a) of section 602 of the business corporation law is amended to read as follows: (a) Meetings of shareholders may be held at such place, within or without this state, as may be fixed by or under the by-laws, or if not so fixed, [at the office of the corporation in this state] AS DETERMINED BY THE BOARD OF DIRECTORS. FOR THE DURATION OF THE STATE DISASTER EMER- GENCY DECLARED BY EXECUTIVE ORDER TWO HUNDRED TWO THAT BEGAN ON MARCH SEVENTH, TWO THOUSAND TWENTY, IF, PURSUANT TO THIS PARAGRAPH OR THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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