---
type: "Bill"
title: "Preferred shares: rights and preferences distributions."
description: "Existing law authorizes a corporation to issue one or more classes or series of shares, as specified, including designating a class or series of shares as \"preferred,\" which are defined as shares other than common shares."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20132014"
identifier: "AB 434"
citation: "California AB 434 (20132014)"
classification: ["bill"]
subjects: ["Preferred shares: rights and preferences distributions."]
status: "enacted"
primary_sponsors: ["Hagman"]
version_count: 4
action_count: 16
vote_count: 4
first_action: "2013-02-15"
last_action: "2013-06-28"
source: "openstates"
source_identifier: "ocd-bill/db43a46e-e356-4611-b033-4f3c2c263eaa"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201320140AB434"
source_hash: "63b8d328f7599a309ab2dc6a3cc46fb11ae2f56411d921eeee801fc0215bebd7"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---

# California AB 434 (20132014) — Preferred shares: rights and preferences distributions.

Existing law authorizes a corporation to issue one or more classes or series of shares, as specified, including designating a class or series of shares as "preferred," which are defined as shares other than common shares.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **02/15/13 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB434&version=20130AB43499INT)
2. **06/28/13 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB434&version=20130AB43497CHP)
3. **AB434** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201320140AB434)
4. **06/14/13 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB434&version=20130AB43498ENR)

## Votes

- Do pass, to Consent Calendar. — **12–0** (pass) · lower
- Consent Calendar 2nd — **37–0** (pass) · upper
- AB 434 HAGMAN Consent Calendar Second Day — **77–0** (pass) · lower
- Do pass and be placed on the Consent Calendar. — **8–0** (pass) · upper

## Sponsors

- Hagman — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2013-02-15** Read first time. To print. `reading-1`
- **2013-02-19** From printer. May be heard in committee March 21.
- **2013-03-11** Referred to Com. on B. & F. `referral-committee`
- **2013-04-04** In committee: Hearing postponed by committee.
- **2013-04-30** From committee: Do pass. To consent calendar. (Ayes 12. Noes 0.) (April 29). `committee-passage-favorable, committee-passage`
- **2013-05-01** Read second time. Ordered to consent calendar. `reading-2, reading-1`
- **2013-05-06** Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0. Page 1265.) `reading-3, reading-1, passage`
- **2013-05-06** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
- **2013-05-15** Referred to Com. on B. & F.I. `referral-committee`
- **2013-06-05** From committee: Do pass. To consent calendar. (Ayes 8. Noes 0.) (June 5). `committee-passage-favorable, committee-passage`
- **2013-06-06** Read second time. Ordered to consent calendar. `reading-2, reading-1`
- **2013-06-13** Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 1339.). `reading-3, reading-1, passage`
- **2013-06-13** In Assembly. Ordered to Engrossing and Enrolling. `committee-passage`
- **2013-06-20** Enrolled and presented to the Governor at 1:30 p.m.
- **2013-06-28** Approved by the Governor. `executive-signature`
- **2013-06-28** Chaptered by Secretary of State - Chapter 38, Statutes of 2013.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/db43a46e-e356-4611-b033-4f3c2c263eaa`. Confidence: reported (aggregated from official California legislature records).