California 2009-2010 Regular Session Status: In Committee

AB 2281 — Corporate disclosures.

Last action — From committee without further action.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2009-2010 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law, the General Corporation Law, requires a domestic corporation and a foreign corporation to file statements annually with the Secretary of State disclosing specified information concerning its operation and makes the information contained in the statements open to public inspection. Existing law specifies additional information that a publicly traded company is required to include in the statement, including a description of any services performed for the corporation by an independent auditor during its 2 most recent fiscal years, information regarding the compensation for the most recent fiscal year of the corporation paid to each director and certain corporate officers, information regarding any loans made to any director in the 2 most recent fiscal years at below market rates, and a description of any material pending legal proceedings to which the corporation is a party, including any final judgments entered against the corporation during the 5 preceding years. This bill would provide that these publicly traded corporations would be deemed to have satisfied various of those reporting requirements if the corporation includes certain information disclosed pursuant to federal securities laws relating to services provided to the corporation by an independent auditor, compensation paid to directors and certain corporate officers, and loans to directors. The bill would also revise these reporting requirements to require disclosure of any loan to a director in the 2 most recent fiscal years and any final judgment entered against the corporation during the fiscal years covered by the statement. The bill would make various other clarifying and technical changes to the reporting provisions applicable to publicly traded corporations.

Bill Text

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Action History

  1. From committee without further action.

  2. In committee: Set, first hearing. Hearing canceled at the request of author.

  3. Referred to Com. on B. & F.

  4. From printer. May be heard in committee March 21.

  5. Read first time. To print.

Sponsors

  • Miller · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Miller

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 2281 do?
Existing law, the General Corporation Law, requires a domestic corporation and a foreign corporation to file statements annually with the Secretary of State disclosing specified information concerning its operation and makes the information contained in the statements open to public inspection. Existing law specifies additional information that a publicly traded company is required to include in the statement, including a description of any services performed for the corporation by an independent auditor during its 2 most recent fiscal years, information regarding the compensation for the most recent fiscal year of the corporation paid to each director and certain corporate officers, information regarding any loans made to any director in the 2 most recent fiscal years at below market rates, and a description of any material pending legal proceedings to which the corporation is a party, including any final judgments entered against the corporation during the 5 preceding years. This bill would provide that these publicly traded corporations would be deemed to have satisfied various of those reporting requirements if the corporation includes certain information disclosed pursuant to federal securities laws relating to services provided to the corporation by an independent auditor, compensation paid to directors and certain corporate officers, and loans to directors. The bill would also revise these reporting requirements to require disclosure of any loan to a director in the 2 most recent fiscal years and any final judgment entered against the corporation during the fiscal years covered by the statement. The bill would make various other clarifying and technical changes to the reporting provisions applicable to publicly traded corporations.
Who sponsors AB 2281?
AB 2281 is sponsored by Miller.
What is the current status of AB 2281?
This bill died with 2009-2010 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 2281?
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