California 2015-2016 Regular Session Status: Enacted

AB 792 — Board of directors: investment standards.

Last action — Chaptered by Secretary of State - Chapter 56, Statutes of 2015.

  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 February 25, 2015. 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

The Nonprofit Public Benefit Corporation Law and the Nonprofit Religious Corporation Law each require a board of directors for a corporation formed under its provisions to manage corporate investments in compliance with prescribed investment standards. The laws specify that compliance with its prescribed standards do not preclude the application of a separate investment standard under the Uniform Prudent Management of Institutional Funds Act. This bill would modify the prescribed investment standard in each law to include the Uniform Prudent Management of Institutional Funds Act, if that act would be applicable.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 56, Statutes of 2015.

  2. Approved by the Governor.

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

  4. In Assembly. Ordered to Engrossing and Enrolling.

  5. Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 1548.).

  6. Read second time. Ordered to Consent Calendar.

  7. From committee: Do pass. To Consent Calendar. (Ayes 7. Noes 0.) (June 17).

  8. Referred to Com. on B. & F.I.

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

  10. Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0. Page 1477.)

  11. Read second time. Ordered to third reading.

  12. From committee: Do pass. (Ayes 12. Noes 0.) (May 4).

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

  14. From printer. May be heard in committee March 28.

  15. Read first time. To print.

Sponsors

  • Chiu · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Chiu

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

Passed 37 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 34003
Democratic 3000
Total 37003
% of votes cast 93%0%0%8%
How each member voted (40)
Member Party Vote
Anderson — Yea
Bates — Yea
Hueso — Yea
Huff — Yea
Leno — Yea
Liu — Yea
Monning — Yea
Morrell — Not Voting
Galgiani — Yea
Fuller — Yea
Hill — Yea
Lara — Yea
Allen — Yea
Cannella — Yea
Mitchell — Yea
De León — Yea
Pan — Yea
Runner — Yea
Glazer — Yea
Hall — Not Voting
Hancock — Yea
Hernandez — Yea
Beall — Yea
Block — Yea
Hertzberg — Yea
Leyva — Yea
Mendoza — Yea
Moorlach — Yea
Nielsen — Yea
Pavley — Not Voting
Roth — Yea
Vidak — Yea
Wieckowski — Yea
Wolk — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea

Official roll call →

AB 792 CHIU Assembly Third Reading

Passed 77 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 67003
Democratic 4000
Republican 6000
Total 77003
% of votes cast 96%0%0%4%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Jones-Sawyer — Yea
Low — Yea
Maienschein — Yea
Mathis — Not Voting
Mullin — Yea
Nazarian — Yea
Olsen — Yea
Quirk — Yea
Rodriguez — Yea
Steinorth — Yea
Wagner — Yea
Williams — Yea
Wood — Yea
Eggman — Yea
Chávez — Yea
Gatto — Yea
Frazier — Yea
Gomez — Yea
Harper — Yea
Chau — Yea
Salas — Yea
Linder — Yea
Mayes — Yea
Chu — Yea
McCarty — Yea
Cooley — Yea
Cooper — Yea
O'Donnell — Yea
Obernolte — Yea
Perea — Yea
Rendon — Yea
Ridley-Thomas — Yea
Weber — Yea
Wilk — Yea
Burke — Yea
Gordon — Yea
Gray — Yea
Holden — Yea
Atkins — Yea
Campos — Yea
Bonilla — Yea
Lopez — Yea
Chang — Yea
Kim — Not Voting
Baker — Yea
Bigelow — Yea
Chiu — Yea
Dababneh — Yea
Daly — Yea
Dodd — Yea
Levine — Yea
Medina — Yea
Melendez — Not Voting
Santiago — Yea
Thurmond — Yea
Ting — Yea
Waldron — Yea
Gonzalez — Yea
Hadley — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea
Patterson, Joe Republican Yea

Official roll call →

Do pass.

Passed 12 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 12000
Total 12000
% of votes cast 100%0%0%0%
How each member voted (12)
Member Party Vote
Achadjian — Yea
Brown — Yea
Kim — Yea
Low — Yea
Perea — Yea
Gatto — Yea
Chau — Yea
Dababneh — Yea
Ridley-Thomas — Yea
Hadley — Yea
Mark Stone — Yea
Travis Allen — Yea

Official roll call →

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 792 do?
The Nonprofit Public Benefit Corporation Law and the Nonprofit Religious Corporation Law each require a board of directors for a corporation formed under its provisions to manage corporate investments in compliance with prescribed investment standards. The laws specify that compliance with its prescribed standards do not preclude the application of a separate investment standard under the Uniform Prudent Management of Institutional Funds Act. This bill would modify the prescribed investment standard in each law to include the Uniform Prudent Management of Institutional Funds Act, if that act would be applicable.
Who sponsors AB 792?
AB 792 is sponsored by Chiu.
What is the current status of AB 792?
This bill has been enacted into law. Introduced February 25, 2015. Enacted.
Where can I track AB 792?
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