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Committee passes SB142 allowing for-profit corporations to convert to nonprofit; amendment adds clarifying punctuation
INSURANCE & COMMERCE - SENATE · January 29, 2019
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Summary
Senator Teague presented SB142 to permit for-profit corporations to convert to nonprofit status; the committee adopted a minor amendment (adding a period to clarify language) and passed the bill as amended. Methodist Health requested the change, and the fiscal note was described as revenue neutral.
Senator Teague presented SB142 to the Senate Insurance & Commerce committee, describing it simply as a measure that allows a for-profit corporation to convert to a nonprofit. He said he had been asked to carry the measure by…
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