Senate Bill 168, sponsored by Senator Larry Walker (R-Perry), has now unanimously passed both the House and Senate and awaits the Governor's signature. This legislation allows Georgia corporations’ to conduct remote shareholder meetings.
Senate Bill 168, sponsored by Senator Larry Walker (R-Perry), has now unanimously passed both the House and Senate and awaits the Governor's signature. This legislation allows Georgia corporations’ to conduct remote shareholder meetings.
Issue Summary:
During the COVID-19 pandemic, businesses have been challenged to adapt to new ways of operating and continuously find new opportunities for efficiency. To capture such opportunities, MAC Public Policy formed the REFRESH working group. Made up of MAC investors interested in refreshing our state laws, REFRESH was tasked with identifying policies that create an unnecessary physical presence to conduct business or create barriers to commerce in a world where fast, virtual transactions are the norm.
Senate Bill 168 is one of two policy proposals vetted and recommended by REFRESH. It allows Georgia corporations’ to conduct remote annual and special shareholder meetings. Currently, Georgia law only allows corporations to conduct their shareholder meetings in-person.
Governor Kemp first introduced this policy change in Executive Order 03.20.20.02, issued during Georgia’s Public Health State of Emergency. By codifying Governor Kemp’s executive order to allow remote shareholder meetings, this legislation brings our state into the 21st century and provides flexibility to Georgia corporations to conduct remote shareholders the way they choose in the future.
Senate Bill 168 will refresh Georgia’s laws and break down unnecessary physical barriers for Georgia businesses. By passing Senate Bill 168, we will further our efforts to keep Georgia the No. 1 state for business and foster a 21st century economy.
MAC Position: Support
Sponsor: Sen. Larry Walker
Status History:
