summary
Introduced
01/09/2023
01/09/2023
In Committee
03/13/2023
03/13/2023
Crossed Over
01/25/2023
01/25/2023
Passed
04/19/2023
04/19/2023
Dead
Signed/Enacted/Adopted
05/11/2023
05/11/2023
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT Relating to making updates to the Washington business 2 corporation act; amending RCW 23B.01.400, 23B.06.210, 23B.10.020, and 3 23B.11.030; adding a new section to chapter 23B.06 RCW; and adding a 4 new section to chapter 23B.11 RCW. 5
AI Summary
This bill makes updates to the Washington business corporation act. It defines new terms such as "forward stock split," "reverse stock split," and "stock split." It allows corporations to effect a stock split by amending their articles of incorporation, with some exceptions requiring shareholder approval. The bill also provides a process for a parent corporation to merge with its wholly owned subsidiary without shareholder approval under certain conditions. Overall, the bill aims to modernize and provide more flexibility in corporate governance and shareholder voting for Washington businesses.
Committee Categories
Justice
Sponsors (6)
Jamie Pedersen (D)*,
Manka Dhingra (D),
Mark Mullet (D),
T'wina Nobles (D),
Mike Padden (R),
Jeff Wilson (R),
Last Action
Effective date 7/23/2023. (on 05/11/2023)
bill text
bill summary
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bill summary
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bill summary
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