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MONDAY, JANUARY 24, 2011
Members Present: Sen. John Valentine, Chair
Sen. Dan Liljenquist
Sen. Kevin VanTassell
Sen. Gene Davis
Sen. Karen Mayne
Members Absent: Sen. Curt Bramble
Sen. David Hinkins
Sen. Steve Urquhart
Staff Present: Bryant R. Howe, Assistant Director
Karen Allred, Committee Secretary
Public Speakers Present: Sam Gardner, Dorsey & Whitney LLP
Ted Lewis, Attorney
Chris Purcell, Attorney, State Farm
A list of visitors and a copy of handouts are filed with the committee minutes.
Chair Valentine called the meeting to order at 3:30 p.m., welcomed those in attendance and announced that, at the request of the sponsor, S.B. 98 Securities Related Amendments (B. McAdams) would not be heard today.
1. S.B. 11 Worker Classification Coordinated Enforcement (K. Mayne)
Sen. Mayne presented the bill.
MOTION: Sen. Mayne moved to adopt 1st Sub. S.B. 11.
The motion passed unanimously.
Sen. Mayne further explained the bill.
MOTION: Sen. Liljenquist moved to transmit S.B. 11 with a favorable recommendation.
The motion passed unanimously.
2. S.B. 95 Shareholder Action Without Meeting (B. McAdams)
Sen. McAdams explained the bill assisted by Sam Gardner, Dorsey & Whitney LLP.
The following amendments were distributed:
1. Page 5, Lines 122 through 129 :
122
{
[
}
{
(5)
}
(6)
Notwithstanding Subsection (1), directors may not be
elected by written consent
123 except by unanimous written consent of all shares entitled to vote for the election of directors.
{
]
}
124
{
(6)
}
(7)
If not otherwise determined under Sections
16-10a-703
or
16-10a-707
, the record
125 date for determining shareholders entitled to take action without a meeting or entitled to be
126 given notice under Subsection (2) [
127 delivers to the corporation a writing upon which the action is taken pursuant to Subsection (1).
128
{
(7)
}
(8)
Action taken under this section has the same effect as action
taken at a meeting of
129 shareholders and may be so described in any document.
MOTION: Sen. Davis moved to adopt the amendments.
The motion passed unanimously.
Ted Lewis, Attorney, spoke to the bill.
MOTION: Sen. VanTassell moved to transmit S.B. 95 with a favorable recommendation.
The motion passed unanimously.
3. S.B. 99 Motor Vehicle Insurance - Named Driver Exclusion Amendments (L. Hillyard)
Sen. Hillyard explained the bill. Chris Purcell, Attorney, State Farm Insurance, spoke to the bill.
MOTION: Sen. Mayne moved to transmit S.B. 99 with a favorable recommendation.
The motion passed unanimously.
MOTION: Sen. Davis moved to adjourn.
The motion passed unanimously.
Chair Valentine adjourned the meeting at 3:55 p.m.