Senate Bill 945 (Eden – 1921)
Chapter 383, Statutes of 1921 - SB 945
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Former Civil Code section 400, relating to dissolved corporations, was amended following legislative passage of Senate Bill 945 of 1921, which affected this bill only. (See Exhibits #1a and #1b) Senator Walter Eden introduced this measure on March 14, 1921. (See Exhibit #1a)
Senate Bill 945 was assigned to the Senate Committee on Corporations and the Assembly Committee on Corporations where policy issues raised by the bill were considered. (See Exhibit #2) There were no amendments made to Senate Bill 945. (See Exhibits #1b and #2) Subsequent to legislative approval, Governor William D. Stephens signed Senate Bill 945 on May 23, 1921, and it was recorded by the Secretary of State on July 29, 1921 as Chapter 383 of the Statutes of 1921. (See Exhibits #1b and #2)
As introduced, Senate Bill 945 proposed to amend former Civil Code section 400 by appending language to the section as follows:
…provided, however, that any deed executed in the name of such corporation by the president or vice-president and secretary or assistant secretary after a dissolution thereof or after a forfeiture of the charter of such corporation or after the suspension of the corporate rights, privileges and powers of such corporation, which deed shall have been duly recorded in the proper book of records of the county in which the land or any portion thereof so conveyed is situated, for a period of five years, shall have the same force and effect as if executed and delivered prior to said dissolution, forfeiture or suspension.
(See Exhibit #1a)
As indicated above, the language of Senate Bill 945 was enacted as introduced. (See Exhibits #1a and #1b)