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Text: HF02035                           Text: HF02037
Text: HF02000 - HF02099                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 2036

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 499.5, Code 1995, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  4.  A telephone company organized as a
  1  4 corporation under chapter 491 and qualifying pursuant to an
  1  5 internal revenue service letter ruling under I.R.C. }
  1  6 501(c)(12) as a nonprofit corporation entitled to distribute
  1  7 profits in a manner similar to an association under this
  1  8 chapter may reorganize as an association under this chapter
  1  9 upon the affirmative vote of two-thirds of the votes cast by
  1 10 the shares entitled to vote in an election at a meeting at
  1 11 which a majority of all shares entitled to vote cast a vote.  
  1 12                           EXPLANATION
  1 13    This bill provides that a telephone company organized as a
  1 14 corporation under chapter 491 and qualifying pursuant to an
  1 15 internal revenue service letter ruling under I.R.C. } 501(c)(12)
  1 16 as a nonprofit corporation entitled to distribute profits in a
  1 17 manner similar to a chapter 499 corporation may reorganize as an
  1 18 association under chapter 499 upon the affirmative vote of two-
  1 19 thirds of the votes cast by a majority of all shares entitled to
  1 20 vote.
  1 21 LSB 3529HH 76
  1 22 mj/cf/24
     

Text: HF02035                           Text: HF02037
Text: HF02000 - HF02099                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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