Texas SB1057 sets requirements for shareholders to submit proposals to shareholders' meetings for certain corporations.

Texas SB1057 amends the Business Organizations Code to establish requirements for shareholders to submit proposals to shareholders' meetings for certain corporations. The bill applies to corporations formed under Texas law, with equity securities registered under the Securities Exchange Act of 1934, listed on a national securities exchange, and either headquartered in Texas or listed on a stock exchange approved by the state. Corporations must opt into these requirements by amending their governing documents and notifying shareholders.

Texas SB1057 sets requirements for shareholders to submit proposals to shareholders' meetings for certain corporations.

Texas SB1057 amends the Business Organizations Code to establish requirements for shareholders to submit proposals to shareholders' meetings for certain corporations. The bill applies to corporations formed under Texas law, with equity securities registered under the Securities Exchange Act of 1934, listed on a national securities exchange, and either headquartered in Texas or listed on a stock exchange approved by the state. Corporations must opt into these requirements by amending their governing documents and notifying shareholders.