AB 1342

  • California Assembly Bill
  • 2019-2020 Regular Session
  • Introduced in Assembly Feb 22, 2019
  • Passed Assembly May 22, 2019
  • Senate
  • Governor

Nonprofit corporations: private postsecondary educational institutions: sale of assets: Attorney General approval.

Abstract

Existing law, the Nonprofit Public Benefit Corporation Law, establishes the requirements for the formation and operation of a nonprofit public benefit corporation and provides that a corporation is subject at all times to examination by the Attorney General. Existing law generally requires a corporation to give written notice to the Attorney General before it sells, leases, conveys, exchanges, transfers, or disposes of its assets, except as specified. Existing law provides specific procedures for health facilities and additionally requires these facilities to obtain the consent of the Attorney General prior to entering into a specified agreement or transaction. This bill would require a nonprofit corporation that operates or controls a private postsecondary educational institution to obtain the Attorney General's consent before entering into certain agreements or transactions, including an agreement or transaction to sell or convey its assets to, or to transfer control, responsibility, or governance of a material amount of its assets to, a for-profit corporation or mutual benefit corporation. The bill would require the Attorney General to consider specified factors in consenting to, giving conditional consent to, or not consenting to, the agreement or transaction, and would authorize the Attorney General to contract with experts, consultants, and state agencies, including the Bureau for Postsecondary Education, to receive advice in reviewing the agreement or transactions that are subject to the above-specified provisions. The bill would authorize the Attorney General, as a condition of approving the agreement or transaction, to transfer assets from the proceeds of the sale or transaction to the Student Tuition Recovery Fund, a continuously appropriated fund. By authorizing the deposit of additional moneys into a continuously appropriated fund, the bill would make an appropriation.

Bill Sponsors (7)

Votes


Actions


Aug 30, 2019

Senate

In committee: Held under submission.

Jul 08, 2019

Senate

In committee: Referred to APPR. suspense file.

  • Referral-Committee
APPR. suspense file. APPR

Jun 26, 2019

Senate

From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 1.) (June 25). Re-referred to Com. on APPR.

  • Committee-Passage-Favorable
  • Committee-Passage
  • Referral-Committee
Com. on APPR.

Jun 19, 2019

Senate

From committee: Do pass and re-refer to Com. on JUD. (Ayes 5. Noes 1.) (June 19). Re-referred to Com. on JUD.

  • Committee-Passage-Favorable
  • Committee-Passage
  • Referral-Committee
Com. on JUD.

May 29, 2019

Senate

Referred to Coms. on ED. and JUD.

  • Referral-Committee
Coms. on ED. and JUD.

May 23, 2019

Senate

In Senate. Read first time. To Com. on RLS. for assignment.

May 22, 2019

Assembly

Read third time. Passed. Ordered to the Senate. (Ayes 62. Noes 14. Page 1798.)

May 20, 2019

Assembly

Read second time. Ordered to third reading.

May 16, 2019

Assembly

Joint Rule 62(a), file notice suspended. (Page 1760.)

Assembly

From committee: Do pass. (Ayes 13. Noes 5.) (May 16).

May 15, 2019

Assembly

In committee: Set, first hearing. Referred to APPR. suspense file.

  • Referral-Committee
APPR. suspense file. APPR

May 13, 2019

Assembly

Joint Rule 62(a), file notice suspended. (Page 1609.)

Apr 23, 2019

Assembly

From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 3.) (April 23). Re-referred to Com. on APPR.

  • Committee-Passage-Favorable
  • Committee-Passage
  • Referral-Committee
Com. on APPR.

Apr 10, 2019

Assembly

From committee: Do pass and re-refer to Com. on JUD. (Ayes 10. Noes 1.) (April 9). Re-referred to Com. on JUD.

  • Committee-Passage-Favorable
  • Committee-Passage
  • Referral-Committee
Com. on JUD.

Assembly

Coauthors revised.

Mar 14, 2019

Assembly

Referred to Coms. on HIGHER ED. and JUD.

  • Referral-Committee
Coms. on HIGHER ED. and JUD.

Feb 25, 2019

Assembly

Read first time.

Feb 23, 2019

Assembly

From printer. May be heard in committee March 25.

Feb 22, 2019

Assembly

Introduced. To print.

Bill Text

Bill Text Versions Format
AB1342 HTML
02/22/19 - Introduced PDF

Related Documents

Document Format
No related documents.

Sources

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