BILL · 2007–08 SESSION

HB 1042: Share aquisition time period

Modifying the share acquisition time period for engaging in a significant business transaction.

Summary

Creates an exemption to the five year "freeze-out" period in the corporate anti-takeover law. The exemption allows a corporation to engage in a significant business transaction with an acquiring person within the five year period if the board of directors and a supermajority of the shareholders approve.

From the House Bill Report (HB 1042), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 45, Laws of 2007

AN ACT Relating to business transactions;

Passed January 29, 2007

Version voted on: HB 1042

97 Yea 0 Nay 0 Absent 1 Excused

Party	Yea	Nay	Absent	Excused
Democrat	62	0	0	1
Republican	35	0	0	0

How each member voted

Passed April 4, 2007

Version voted on: HB 1042

46 Yea 0 Nay 0 Absent 3 Excused

Party	Yea	Nay	Absent	Excused
Democrat	29	0	0	3
Republican	17	0	0	0

How each member voted

Apr 17, 2007Governor signed.
Apr 17, 2007Effective date 7/22/2007.
Apr 17, 2007Chapter 45, 2007 Laws.
Apr 11, 2007Delivered to Governor.
Apr 9, 2007President signed.
Apr 6, 2007Speaker signed.
Apr 4, 2007Third reading, passed; yeas, 46; nays, 0; absent, 0; excused, 3.
Apr 4, 2007Rules suspended. Placed on Third Reading.
Apr 3, 2007Placed on second reading by Rules Committee.
Mar 27, 2007Passed to Rules Committee for second reading.
Mar 27, 2007JUD - Majority; do pass.
Jan 30, 2007First reading, referred to Judiciary.
Jan 29, 2007Third reading, passed; yeas, 97; nays, 0; absent, 0; excused, 1.
Jan 29, 2007Rules suspended. Placed on Third Reading.
Jan 25, 2007Rules Committee relieved of further consideration. Placed on second reading.
Jan 19, 2007Passed to Rules Committee for second reading.
Jan 17, 2007JUDI - Executive action taken by committee.
Jan 17, 2007JUDI - Majority; do pass.
Jan 8, 2007First reading, referred to Judiciary.
Dec 28, 2006Prefiled for introduction.

Bill numbers restart every two years, so the same number is a different bill in each session.

HB 1042 (2025–26) County treasurer costs · Did not pass · died in committee
HB 1042 (2023–24) Use of existing buildings · Enacted · Chapter 285, Laws of 2023
HB 1042 (2021–22) Child custody/international · Enacted · Chapter 23, Laws of 2021
HB 1042 (2019–20) DOC/interest arbitration · Did not pass · stalled on the House floor
HB 1042 (2017–18) School district/ESD reports · Enacted · Chapter 7, Laws of 2017, 3rd Special Session
HB 1042 (2015–16) Phys therapy & dry needling · Did not pass · passed House, stalled in Senate
HB 1042 (2013–14) Metro park district tax levy · Did not pass · died in committee
HB 1042 (2011–12) Nonprofit org prop tax exemp · Did not pass · passed House, stalled in Senate