Existing law, the General Corporation Law, provides for the formation and governance of general corporations, including the rights of shareholders of a corporation who dissent from approving a reorganization or short-form merger. Existing law provides that a holder of dissenting shares, as defined, who complies with certain procedures under specified circumstances is entitled to receive from the corporation the fair market value of the holder's shares, as defined, determined as of the day before the first announcement of the terms of the transaction. Existing law provides that holders of publicly traded shares are only eligible to receive the fair market value of their shares if demands for payment are filed with respect to 5% or more of the class of shares. Existing law requires that a corporation give specified notice to shareholders of a subsidiary corporation regarding a merger of the subsidiary corporation if all of the corporate shares of the subsidiary corporation are not owned by the parent corporation.
California AB 1680 (20112012) — Dissenting shareholders' rights.
Existing law, the General Corporation Law, provides for the formation and governance of general corporations, including the rights of shareholders of a corporation who dissent from approving a reorganization or short-form merger. Existing law provides that a holder of dissenting shares, as defined, who complies with certain procedures under specified circumstances is entitled to receive from the corporation the fair market value of the holder's shares, as defined, determined as of the day before the first announcement of the terms of the transaction. Existing law provides that holders of publicly traded shares are only eligible to receive the fair market value of their shares if demands for payment are filed with respect to 5% or more of the class of shares. Existing law requires that a corporation give specified notice to shareholders of a subsidiary corporation regarding a merger of the subsidiary corporation if all of the corporate shares of the subsidiary corporation are not owned by the parent corporation.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
AB 1680 WIECKOWSKI Assembly Third Reading — 49–23 (pass) · lower
Do pass. — 6–0 (pass) · upper
Do pass. — 7–2 (pass) · lower
AB 1680 WIECKOWSKI Concurrence in Senate Amendments — 58–18 (pass) · lower
Do pass and be re-referred to the Committee on Judiciary. — 9–3 (pass) · lower
Sponsors
Wieckowski — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2012-02-14 Read first time. To print. reading-1
2012-02-15 From printer. May be heard in committee March 16.
2012-02-23 Referred to Com. on B. & F. referral-committee
2012-03-19 From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended. reading-2, amendment-introduction, reading-1, amendment-passage
2012-03-20 Re-referred to Com. on B. & F. referral-committee
2012-04-09 From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended. reading-2, amendment-introduction, reading-1, amendment-passage
2012-04-10 Re-referred to Com. on B. & F. referral-committee
2012-04-17 From committee: Do pass and re-refer to Com. on JUD. (Ayes 9. Noes 3.) (April 16). Re-referred to Com. on JUD. referral-committee, committee-passage, committee-passage-favorable
2012-05-08 From committee: Do pass. (Ayes 7. Noes 2.) (May 8). committee-passage, committee-passage-favorable
2012-05-09 Read second time. Ordered to third reading. reading-2, reading-1
2012-05-10 Read third time. Passed. Ordered to the Senate. (Ayes 49. Noes 23. Page 4781.) reading-3, reading-1, passage
2012-05-10 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2012-05-24 Referred to Com. on B. & F.I. referral-committee
2012-06-20 From committee: Do pass. (Ayes 6. Noes 0.) (June 20). committee-passage, committee-passage-favorable
2012-06-21 Read second time. Ordered to third reading. reading-2, reading-1
2012-08-06 Read third time and amended. Ordered to second reading. reading-3, reading-1, amendment-passage
2012-08-07 Read second time. Ordered to third reading. reading-2, reading-1
2012-08-20 Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 4577.). reading-3, reading-1, passage
2012-08-20 In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 22 pursuant to Assembly Rule 77.
2012-08-22 Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 58. Noes 18. Page 6102.). committee-passage-favorable, amendment-passage
2012-08-30 Enrolled and presented to the Governor at 4:30 p.m.
2012-09-23 Approved by the Governor. executive-signature
2012-09-23 Chaptered by Secretary of State - Chapter 473, Statutes of 2012.
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/71b17474-428f-45d7-87ec-cf7c3f5065ee. Confidence: reported (aggregated from official California legislature records).
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