H1189 - Corporate Actions

1 Co-Sponsor

Provides defective corporate action is not void or voidable in certain circumstances; requires board of directors to take action to ratify defective corporate action; provides quorum & voting requirements for ratification of defective corporate actions; requires notice be given to shareholders of corporate action taken by board of directors; requires corporations to file articles of validation; provides registered agent may resign from companies by delivering specified statement of resignation to DOS; provides registered agents may pay one resignation fee regardless of whether resigning from one or multiple dissolved companies or corporations.