SB 142 Repeals a provision requiring corporate paid-in surplus distributions to be identified as liquidating dividends
Sponsor: Sifton
LR Number: 0827S.01P Fiscal Note available
Committee: Judiciary and Civil and Criminal Jurisprudence
Last Action: 5/17/2013 - Referred H Judiciary Committee Journal Page: H3327
Title: Calendar Position:
Effective Date: August 28, 2013

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Current Bill Summary

SB 142 - 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 similar to HB 498 (2013).