Bill > H1661

This bill aims to create job opportunities through employee ownership. It requires the president or chief executive officer of a business corporation to notify its employees in writing within seven days of signaling an intent to sell or transfer ownership of the business or any of its plants. The employees must be informed that they are eligible to purchase the business through a cooperative or employee stock ownership program and provided with information to contact the Office of Employee Involvement and Ownership. Additionally, the employees have the right of first refusal in bidding to purchase the business through a cooperative or employee stock ownership program.

Labor and Employment

https://malegislature.gov/Bills/191/H1661