Mississippi Legislature
2006 Regular Session

House Bill 1278

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Bill Text

History of Actions

Background

Title

Description: Model Business Corporations Act; revisions.

Bill Text: [Introduced]

History of Actions:

1 01/16 (H) Referred To Judiciary A
2 01/31 (H) Died In Committee

Background Information:

Effective dateJuly 1, 2006
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority

House Committee:

Principal Author: Simpson

Code Sections: A 079-0004-0001.40, A 079-0004-0007.32, A 079-0004-0007.44, A 079-0004-0008.50, A 079-0004-0008.53, A 079-0004-0008.55, A 079-0004-0008.60, A 079-0004-0008.61, A 079-0004-0008.62, A 079-0004-0008.63, A 079-0004-0014.31, A 079-0004-0014.34

Title: AN ACT TO AMEND SECTION 79-4-1.40, MISSISSIPPI CODE OF 1972, TO ENACT A DEFINITION OF "PUBLIC CORPORATION"; TO CREATE NEW SECTION 79-4-1.43, MISSISSIPPI CODE OF 1972, TO ENACT A DEFINITION FOR "QUALIFIED DIRECTOR"; TO AMEND SECTION 79-4-7.32, MISSISSIPPI CODE OF 1972, TO CLARIFY PROVISIONS CONCERNING AGREEMENTS AMONG SHAREHOLDERS OF A CORPORATION THAT GOES PUBLIC; TO AMEND SECTION 79-4-7.44, MISSISSIPPI CODE OF 1972, TO REVISE PROVISIONS RELATING TO DISMISSAL OF A DERIVATIVE ACTION UPON MOTION OF A CORPORATION; TO AMEND SECTION 79-4-8.50, MISSISSIPPI CODE OF 1972, TO REVISE DEFINITIONS DEALING WITH INDEMNIFICATION; TO AMEND SECTION 79-4-8.53, MISSISSIPPI CODE OF 1972, TO REVISE THE ADVANCEMENT OF EXPENSES IN INDEMNIFICATION; TO AMEND SECTION 79-4-8.55, MISSISSIPPI CODE OF 1972, TO REVISE THE DETERMINATION AND AUTHORIZATION OF INDEMNIFICATION; TO AMEND SECTION 79-4-8.60, MISSISSIPPI CODE OF 1972, TO REVISE DEFINITIONS DEALING WITH A DIRECTOR'S CONFLICTS OF INTEREST; TO AMEND SECTION 79-4-8.61, MISSISSIPPI CODE OF 1972, TO CLARIFY WHEN A DIRECTOR'S ACTIONS ARE NOT SANCTIONABLE; TO AMEND SECTION 79-4-8.62, MISSISSIPPI CODE OF 1972, TO CLARIFY DISCLOSURE REQUIRED OF A DIRECTOR CONCERNING A CONFLICTING INTEREST; TO AMEND SECTION 79-4-8.63, MISSISSIPPI CODE OF 1972, TO REVISE REQUIREMENTS NECESSARY FOR SHAREHOLDER APPROVAL OF A DIRECTOR'S CONFLICTING INTEREST TRANSACTION; TO CREATE NEW SECTION 79-4-8.70, MISSISSIPPI CODE OF 1972, TO SPECIFY EQUITABLE RELIEF AVAILABLE TO A CORPORATION FOR A DIRECTOR'S UTILIZATION OF A BUSINESS OPPORTUNITY; TO AMEND SECTIONS 79-4-14.31 AND 79-4-14.34, MISSISSIPPI CODE OF 1972, TO CLARIFY THE PROCEDURE FOR DISSOLUTION OF A NONPUBLIC CORPORATION; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/15/06 at 11:32.

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