Bill Title: Amends the Business Corporation Act of 1983. Provides that upon a corporate dissolution any policy of liability insurance covering acts and omissions of the dissolved corporation committed during the corporation's existence shall be held in trust for the benefit of any injured party. Provides that any policy shall be held in trust for as long as there is unexhausted coverage applicable to acts or omissions of the corporation. Modifies the time within which an action may be brought when unexhausted liability coverage is in effect. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2015-01-13 - Session Sine Die [SB3264 Detail]

Text: Latest bill text (Engrossed) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator William Haine [D]	Primary	Sponsored Bills	SD-056	FollowTheMoney	Ballotpedia	VoteSmart
Representative Arthur Turner [D]	Primary	Sponsored Bills	HD-009	FollowTheMoney	Ballotpedia	VoteSmart

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