California 2011-2012 Regular Session Status: Enacted

AB 2668 — Corporate agents: indemnification.

Last action — Chaptered by Secretary of State - Chapter 61, Statutes of 2012.

Track this bill free

No card. One bill, free forever — alerts when it moves.

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

This bill has been enacted into law. Introduced March 05, 2012. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 4 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Existing law authorizes a nonprofit public benefit corporation, mutual benefit corporation, religious corporation, and consumer cooperative corporation to indemnify its agents, as defined, in proceedings, as defined. Existing law provides that the authority of those corporations to so indemnify their agents does not apply to any proceeding against any trustee, investment manager or other fiduciary of an employee benefit plan. Existing law authorizes all corporations, and the corporations described above specifically, to indemnify and purchase and maintain insurance on behalf of a fiduciary of specified employee benefit plans, trusts, or provisions for directors, officers, employees, and persons providing services to the corporation or its affiliates. This bill would apply the above provisions, instead, to a fiduciary of a pension, deferred compensation, saving, thrift or other retirement, incentive or benefit plan, trust or provision for any or all of the corporation's directors, officers, employees, and persons providing services to the corporation or any of its subsidiary or related or affiliated corporations. The bill would provide cross-references, as specified.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 61, Statutes of 2012.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 11:15 a.m.

  4. In Assembly. Ordered to Engrossing and Enrolling.

  5. Read third time. Passed. Ordered to the Assembly. (Ayes 36. Noes 0. Page 3958.).

  6. Read second time. Ordered to consent calendar.

  7. From committee: Do pass. To consent calendar. (Ayes 4. Noes 0.) (June 12).

  8. Referred to Com. on JUD.

  9. In Senate. Read first time. To Com. on RLS. for assignment.

  10. Read third time. Passed. Ordered to the Senate. (Ayes 71. Noes 0. Page 4491.)

  11. Read second time. Ordered to consent calendar.

  12. From committee: Do pass. To consent calendar. (Ayes 12. Noes 0.) (April 16).

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

  14. From printer. May be heard in committee April 5.

  15. Read first time. To print.

Sponsors

  • Committee on Banking and Finance · Primary

Sponsorship breakdown

Export CSV (upgrade) →

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

Sponsors (1)

  • Committee on Banking and Finance

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"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

Votes

Consent Calendar 2nd AB2668 Committee on B. & F.

Passed 36 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 33004
Republican 1000
Democratic 2000
Total 36004
% of votes cast 90%0%0%10%
How each member voted (40)
Member Party Vote
Yee — Yea
Hancock — Not Voting
Wyland — Yea
Evans — Yea
Cannella — Yea
Lowenthal — Yea
De León — Yea
Harman — Yea
Negrete McLeod — Yea
Hernandez — Yea
Rubio — Yea
Anderson — Yea
Blakeslee — Yea
Corbett — Yea
Dutton — Yea
Lieu — Yea
Simitian — Yea
Steinberg — Yea
Vargas — Yea
Walters — Yea
Wright — Yea
Runner — Not Voting
Pavley — Not Voting
Alquist — Yea
Huff — Yea
Kehoe — Yea
Leno — Yea
Liu — Not Voting
Price — Yea
Wolk — Yea
Emmerson — Yea
Correa — Yea
DeSaulnier — Yea
Fuller — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
La Malfa — Yea
Calderon, Lisa Democratic Yea
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Yea

Official roll call →

AB 2668 B. & F. Consent Calendar Second Day

Passed 71 Yea · 0 Nay · 9 Other
Party YeaNayPresentNot Voting
Unaffiliated 69008
Republican 2000
Democratic 0001
Total 71009
% of votes cast 89%0%0%11%
How each member voted (80)
Member Party Vote
Gorell — Yea
Hall — Yea
Carter — Yea
Yamada — Yea
Feuer — Yea
Fong — Yea
Butler — Yea
Allen — Yea
Furutani — Not Voting
Galgiani — Yea
Gatto — Yea
Gordon — Yea
Campos — Yea
Portantino — Yea
John A. Pérez — Yea
Mitchell — Yea
Hagman — Yea
Cedillo — Not Voting
Halderman — Yea
Bonilla — Yea
Atkins — Yea
Harkey — Yea
Hayashi — Yea
Huber — Yea
Hueso — Yea
Fletcher — Not Voting
Jeffries — Yea
Beall — Yea
Block — Yea
Chesbro — Yea
Conway — Yea
Cook — Yea
Davis — Not Voting
Donnelly — Yea
Knight — Yea
Logue — Yea
Mendoza — Yea
Miller — Yea
Morrell — Yea
Nestande — Not Voting
Olsen — Yea
Pan — Yea
Silva — Yea
Skinner — Yea
Solorio — Yea
Swanson — Yea
Valadao — Yea
Wagner — Yea
Williams — Yea
Norby — Not Voting
Achadjian — Yea
Alejo — Yea
Ammiano — Yea
Blumenfield — Yea
Bradford — Yea
Brownley — Not Voting
Buchanan — Yea
Hill — Yea
Huffman — Yea
Lara — Yea
Ma — Yea
Mansoor — Yea
Monning — Yea
Nielsen — Yea
Perea — Yea
Smyth — Not Voting
Torres — Yea
Wieckowski — Yea
Eng — Yea
Dickinson — Yea
Fuentes — Yea
Garrick — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Calderon, Lisa Democratic Not Voting
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass, to Consent Calendar.

Passed 12 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 11000
Democratic 1000
Total 12000
% of votes cast 100%0%0%0%
How each member voted (12)
Member Party Vote
Eng — Yea
Gatto — Yea
Harkey — Yea
Fletcher — Yea
Lara — Yea
Morrell — Yea
Perea — Yea
Achadjian — Yea
Torres — Yea
Fuentes — Yea
Roger Hernández — Yea
Calderon, Lisa Democratic Yea

Official roll call →

Subjects

finance labor
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 2668 do?
Existing law authorizes a nonprofit public benefit corporation, mutual benefit corporation, religious corporation, and consumer cooperative corporation to indemnify its agents, as defined, in proceedings, as defined. Existing law provides that the authority of those corporations to so indemnify their agents does not apply to any proceeding against any trustee, investment manager or other fiduciary of an employee benefit plan. Existing law authorizes all corporations, and the corporations described above specifically, to indemnify and purchase and maintain insurance on behalf of a fiduciary of specified employee benefit plans, trusts, or provisions for directors, officers, employees, and persons providing services to the corporation or its affiliates. This bill would apply the above provisions, instead, to a fiduciary of a pension, deferred compensation, saving, thrift or other retirement, incentive or benefit plan, trust or provision for any or all of the corporation's directors, officers, employees, and persons providing services to the corporation or any of its subsidiary or related or affiliated corporations. The bill would provide cross-references, as specified.
Who sponsors AB 2668?
AB 2668 is sponsored by Committee on Banking and Finance.
What is the current status of AB 2668?
This bill has been enacted into law. Introduced March 05, 2012. Enacted.
Where can I track AB 2668?
Track AB 2668 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on AB 2668

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of AB 2668

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →