WA People
BILL · 2023–24 SESSION · LATEST VERSION SSB 5786

SB 5786: Business corporations

Making updates to the Washington business corporation act.

Summary

  • Replaces the chapter on mergers and share exchanges in the Washington Business Corporation Act (WBCA) with a new chapter that substantially mirrors provisions in the current version of the Model Business Corporation Act (MBCA).
  • Makes various changes to definitions and quorum, voting, and shareholder approval requirements to conform the WBCA with the MBCA.

From the Substitute House Bill Report (SSB 5786), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 22, Laws of 2024
  1. IntroducedJan 8, 2024
  2. Out of committeeJan 26, 2024
  3. Passed SenateFeb 6, 2024
  4. Passed HouseFeb 27, 2024
  5. GovernorMar 13, 2024
  6. LawMar 13, 2024
Prime sponsor
Jamie Pedersen (D-43)
Introduced
January 8, 2024 in the Senate
Last action
March 13, 2024
Session law
Chapter 22, Laws of 2024
Requested by
Other
Budget
Has a fiscal note
Versions
SB 5786, SSB 5786

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

Sponsors

Prime sponsor: Jamie Pedersen (D-43)

4 co-sponsors (3 Democrats, 1 Republican)

Mike Padden R-4Mark Mullet D-5T'wina Nobles D-28Jesse Salomon D-32

Votes

Senate · 3rd Reading & Final Passage

Passed February 6, 2024
Version voted on: SSB 5786
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat29000
Republican20000
How each member voted

Yea (49)

Permalink to this vote

House · 3rd Reading & Final Passage

Passed February 27, 2024
Version voted on: SSB 5786
94 Yea 0 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat58000
Republican36004
How each member voted

Yea (94)

Excused (4)

Permalink to this vote

History

  1. Effective date 6/6/2024. (SSB 5786)
  2. Chapter 22, 2024 Laws. (SSB 5786)
  3. Governor signed. (SSB 5786)
  4. Delivered to Governor. (SSB 5786)
  5. Speaker signed. (SSB 5786)
  6. President signed. (SSB 5786)
  7. Rules suspended. Placed on Third Reading. (SSB 5786)
  8. Third reading, passed; yeas, 94; nays, 0; absent, 0; excused, 4. (SSB 5786)
  9. Rules Committee relieved of further consideration. Placed on second reading. (SSB 5786)
  10. Referred to Rules 2 Review. (SSB 5786)
  11. Minority; without recommendation. (SSB 5786)
  12. CRJ - Majority; do pass. (SSB 5786)
  13. CRJ - Executive action taken by committee. (SSB 5786)
  14. First reading, referred to Civil Rights & Judiciary. (SSB 5786)
  15. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0. (SSB 5786)
  16. Rules suspended. Placed on Third Reading. (SSB 5786)
  17. 1st substitute bill substituted. (SSB 5786)
  18. 1st substitute bill substituted.
  19. Placed on second reading consent calendar. (SSB 5786)
  20. Placed on second reading consent calendar.
  21. Passed to Rules Committee for second reading. (SSB 5786)
  22. Passed to Rules Committee for second reading.
  23. LAW - Majority; 1st substitute bill be substituted, do pass. (SSB 5786)
  24. LAW - Majority; 1st substitute bill be substituted, do pass.
  25. First reading, referred to Law & Justice.
  26. Prefiled for introduction.

SB 5786 in other sessions

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

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