AB 792 California Assembly · 2015-2016 Regular Session

Board of directors: investment standards.

Summary

The Nonprofit Public Benefit Corporation Law and the Nonprofit Religious Corporation Law each require a board of directors for a corporation formed under its provisions to manage corporate investments in compliance with prescribed investment standards. The laws specify that compliance with its prescribed standards do not preclude the application of a separate investment standard under the Uniform Prudent Management of Institutional Funds Act. This bill would modify the prescribed investment standard in each law to include the Uniform Prudent Management of Institutional Funds Act, if that act would be applicable.

Bill status signed all 5 stages cleared

Introduction

Feb 2015

Committee Review

Jun 2015

Assembly Passage

May 2015

Senate Passage

Jun 2015

Signed into Law

Jul 2015

Introduced Feb 25, 2015 Signed Jul 6, 2015

Floor votes · Senate Jun 22, 2015 · Assembly May 18, 2015

How they voted

30–0

Passed · 3 other

Total votes 33

Jun 22, 2015

D Democratic23

21 Yea 2

91% Yea

R Republican10

9 Yea 1

90% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jul 6, 2015

Signed into law

Approved by the Governor.

legislature

Jun 23, 2015

Lower · Passed

In Assembly. Ordered to Engrossing and Enrolling.

lower

Jun 22, 2015

Senate · Passed

Senate Vote: pass (30-0-3)

senate

Jun 17, 2015

Upper · Passed

From committee: Do pass. To Consent Calendar. (Ayes 7. Noes 0.) (June 17).

upper

May 28, 2015

Committee

Referred to Com. on B. & F.I.

upper

May 18, 2015

Assembly · Passed

Assembly Vote: pass (69-0-3)

assembly

May 5, 2015

Lower · Passed

From committee: Do pass. (Ayes 12. Noes 0.) (May 4).

lower

Mar 12, 2015

Committee

Referred to Com. on B. & F.

lower

Feb 26, 2015

Lower · Passed

From printer. May be heard in committee March 28.

lower

1 primary · 0 co-sponsors