Corporations: dissolutions: separate shareholder agreements.
Existing law governs suits concerning the dissolution of corporations. Under this law, subject to any contrary provision in the articles, in a suit for involuntary dissolution or a proceeding for voluntary dissolution initiated by a shareholder vote representing only 50% of the voting power, the corporation or, if it does not elect to purchase, the holders of 50% or more of the voting power, as purchasing shareholders, may avoid the corporation's dissolution and appointment of a receiver by purchasing the plaintiff's or shareholder's shares at fair value.
us/states/ca
California Legislature
20172018
AB 1535
California AB 1535 (20172018)
bill
Corporations: dissolutions: separate shareholder agreements.
California AB 1535 (20172018) — Corporations: dissolutions: separate shareholder agreements.
Existing law governs suits concerning the dissolution of corporations. Under this law, subject to any contrary provision in the articles, in a suit for involuntary dissolution or a proceeding for voluntary dissolution initiated by a shareholder vote representing only 50% of the voting power, the corporation or, if it does not elect to purchase, the holders of 50% or more of the voting power, as purchasing shareholders, may avoid the corporation's dissolution and appointment of a receiver by purchasing the plaintiff's or shareholder's shares at fair value.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
AB 1535 MAIENSCHEIN Concurrence in Senate Amendments — 76–0 (pass) · lower
Sponsors
Maienschein — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2017-02-17 Read first time. To print. reading-1
2017-02-19 From printer. May be heard in committee March 21.
2017-03-16 Referred to Com. on B. & F. referral-committee
2017-03-29 In committee: Hearing postponed by committee.
2017-05-02 From committee: Do pass. (Ayes 10. Noes 0.) (May 1). committee-passage-favorable, committee-passage
2017-05-03 Read second time. Ordered to third reading. reading-2, reading-1
2017-05-04 Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 1386.) reading-3, passage, reading-1
2017-05-04 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2017-05-17 Referred to Coms. on B. & F.I. and JUD. referral-committee
2017-06-07 From committee: Amend, and do pass as amended and re-refer to Com. on JUD. (Ayes 11. Noes 0.) (June 7). amendment-passage, committee-passage, amendment-introduction
2017-06-08 Read second time and amended. Re-referred to Com. on JUD. amendment-passage, reading-2, referral-committee, reading-1
2017-06-21 From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD. amendment-passage, referral-committee, reading-2, reading-1, amendment-introduction
2017-07-19 From committee: Do pass. (Ayes 7. Noes 0.) (July 18). committee-passage-favorable, committee-passage
2017-07-20 Read second time. Ordered to third reading. reading-2, reading-1
2017-08-31 Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2336.). reading-3, passage, reading-1
2017-08-31 In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 2 pursuant to Assembly Rule 77.
2017-09-05 Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 76. Noes 0. Page 2940.). committee-passage-favorable, amendment-passage
2017-09-12 Enrolled and presented to the Governor at 2:30 p.m.
2017-10-12 Approved by the Governor. executive-signature
2017-10-12 Chaptered by Secretary of State - Chapter 721, Statutes of 2017.
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/4d650d8a-6335-4f8e-b32b-7682953a1135. Confidence: reported (aggregated from official California legislature records).