HB 498 Repeals a provision requiring corporate paid-in surplus distributions to be identified as liquidating dividends
Sponsor: Sifton
LR Number: 1202S.02T Fiscal Note available
Committee: Financial and Governmental Organizations and Elections
Last Action: 6/25/2013 - Signed by Governor Journal Page:
Title: SCS HB 498 Calendar Position:
Effective Date: August 28, 2013
House Handler: Jones

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Current Bill Summary


SCS/HB 498 - Currently, the distribution of paid-in surplus to corporate shareholders is required to be identified as a liquidating dividend and the amount per share is required to be disclosed to the receiving shareholders when it is paid. This act repeals this provision.

This act is identical to the perfected version of SB 142 (2013).

CHRIS HOGERTY