SENATE BILL 2575 (KOPP – 1990)
CHAPTER 1088, STATUTES OF 1990 - SB 2575
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Corporations Code and Government Code sections related to limited partnerships were affected in 1990 following legislative passage of Senate Bill 2757. (See Exhibit #1d) This measure was introduced by Senator Quentin L. Kopp on March 1, 1990 at the request of the Business Law Section of the State Bar of California. (See Exhibits #1a, #3, and #8)
Senate Bill 2575 was assigned to the Senate Committee on Insurance, Claims, and Corporations where policy issues raised by the bill were considered. (See Exhibit #3) After approval by that Committee, the Senate Committee on Appropriations examined its fiscal ramifications. (See Exhibit #2) The Senate amended the bill on May 3, 1990. Senate Bill 2575 was approved by the Senate and forwarded to the Assembly on June 1, 1990. (See Exhibits #1b and #2)
While in the Assembly, the Committee on Judiciary considered the policy issues raised by the bill. (See Exhibit #8) Subsequent to approval by that Committee, Senate Bill 2575 was assigned to the Assembly Committee on Ways and Means which examined its fiscal implications. (See Exhibit #10) One amendment was made to Senate Bill 2575 by the Assembly, on July 5, 1990. (See Exhibit #1c) The Assembly thereafter approved the bill and returned it to the Senate. (See Exhibit #2)
The Senate approved the Assembly amendments and forwarded Senate Bill 2575 to the Governor on August 31, 1990. Governor George Deukmejian signed the bill on September 18, 1990, and it was recorded by the Secretary of State on September 20, 1990 as Chapter 1088 of the Statutes of 1990. (See Exhibits #1d and #2)
The Unfinished Business analysis of the Office of Senate Floor Analyses of the bill as last amended on July 5, 1990 described this measure as follows:
DIGEST: This bill would amend the California Revised Limited Partnership Act to set forth provisions dealing with mergers of limited partnerships and dissenters’ rights (see analysis below for specifics).
(See Exhibit #12, page 1)