SB 978 – Allows certain corporations to waive rights to judicial dissolution

• Sponsor: Schmitt
• LR Number: 6280S.01I
• Committee: Judiciary and Civil and Criminal Jurisprudence
• Last Action: 3/26/2014 - Second Read and Referred S Judiciary and Civil and Criminal Jurisprudence Committee
• Journal Page: S623
• Effective Date: August 28, 2014

Current Bill Summary

SB 978 - Current law provides a judicial means by which a corporation having only two shareholders with a 50% interest may be dissolved when such stockholders are unable to agree to continue doing business. This act allows such shareholders to agree, in writing, to waive their right to proceed by such judicial means under the statute.

CHRIS HOGERTY