California 2015-2016 Regular Session Status: In Committee

AB 1686 — Close corporations.

Last action — Re-referred to Com. on B. & F.

  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 2015-2016 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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Existing law, the General Corporation Law, defines different types of business entities and corporations and prescribes their powers and duties. Existing law defines a close corporation as a corporation the articles of which contain, in addition to other things, a provision requiring that all of the corporation's issued shares of all classes be held of record by a specified number of people, not to exceed 35. This bill would raise the maximum number of people who can hold shares in a close corporation, as described above, to 40.

Bill Text

Action History

  1. Re-referred to Com. on B. & F.

  2. From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

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

  4. From printer. May be heard in committee February 20.

  5. Read first time. To print.

Sponsors

Sponsorship breakdown

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

Sponsors (1)

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 1686 do?
Existing law, the General Corporation Law, defines different types of business entities and corporations and prescribes their powers and duties. Existing law defines a close corporation as a corporation the articles of which contain, in addition to other things, a provision requiring that all of the corporation's issued shares of all classes be held of record by a specified number of people, not to exceed 35. This bill would raise the maximum number of people who can hold shares in a close corporation, as described above, to 40.
Who sponsors AB 1686?
AB 1686 is sponsored by Travis Allen.
What is the current status of AB 1686?
This bill died with 2015-2016 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 1686?
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