WA People
BILL · 2023–24 SESSION

SB 5004: Business corporations

Making updates to the Washington business corporation act.

Summary

  • Clarifies the mechanics for implementing a stock split.
  • Enables holding company reorganization transactions and establishes requirements for such transactions.
  • Clarifies when shareholder approval of a plan of merger or share exchange is not required.

From the Senate Bill Report (SB 5004), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 432, Laws of 2023
  1. IntroducedJan 9, 2023
  2. Out of committeeJan 13, 2023
  3. Passed SenateJan 25, 2023
  4. Passed HouseMar 20, 2023
  5. GovernorMay 11, 2023
  6. LawMay 11, 2023
Prime sponsor
Jamie Pedersen (D-43)
Introduced
January 9, 2023 in the Senate
Last action
May 11, 2023
Session law
Chapter 432, Laws of 2023
Requested by
Other

AN ACT Relating to making updates to the Washington business corporation act;

Sponsors

Prime sponsor: Jamie Pedersen (D-43)

5 co-sponsors (3 Democrats, 2 Republicans)

Mike Padden R-4Manka Dhingra D-45Mark Mullet D-5T'wina Nobles D-28Jeff Wilson R-19

Votes

Senate · 3rd Reading & Final Passage

Passed January 25, 2023
Version voted on: SB 5004
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat29000
Republican20000
How each member voted

Yea (49)

Permalink to this vote

House · Final Passage as Amended by the House

Passed March 20, 2023
Version voted on: SB 5004
96 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat57001
Republican39001
How each member voted

Yea (96)

Excused (2)

Permalink to this vote

Senate · Final Passage as Amended by the House

Passed April 13, 2023
Version voted on: SB 5004
47 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat28001
Republican19001
How each member voted

Yea (47)

Excused (2)

Permalink to this vote

History

  1. Effective date 7/23/2023.
  2. Chapter 432, 2023 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. President signed.
  6. Speaker signed.
  7. Passed final passage; yeas, 47; nays, 0; absent, 0; excused, 2.
  8. Senate concurred in House amendments.
  9. Third reading, passed; yeas, 96; nays, 0; absent, 0; excused, 2.
  10. Rules suspended. Placed on Third Reading.
  11. Committee amendment(s) adopted with no other amendments.
  12. Rules Committee relieved of further consideration. Placed on second reading.
  13. Referred to Rules 2 Review.
  14. CRJ - Majority; do pass with amendment(s) by Civil Rights & Judiciary.
  15. CRJ - Executive action taken by committee.
  16. First reading, referred to Civil Rights & Judiciary.
  17. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0.
  18. Rules suspended. Placed on Third Reading.
  19. Placed on second reading consent calendar.
  20. Passed to Rules Committee for second reading.
  21. LAW - Majority; do pass.
  22. First reading, referred to Law & Justice.
  23. Prefiled for introduction.

SB 5004 in other sessions

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

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