A bill that would strengthen and modernize Pennsylvania’s business laws passed the Pennsylvania House of Representatives by a unanimous vote recently.
House Bill 1716, sponsored by state Rep. Perry Warren (D-Bucks) would make various technical changes to the state statute that governs and regulates Pennsylvania’s businesses to better align Pennsylvania corporate laws with those of other states, supporting interstate commerce.
The measure would also allow lawsuits filed by shareholder plaintiffs against a company to proceed if a special litigation committee isn’t formed within 60 days to address the alleged wrongful activity.
“As a former small business owner, I understand the need to modernize Pennsylvania’s business laws to allow Pennsylvania’s businesses to be competitive throughout the country and the rest of the world,” said Warren. “This bill helps make us a better state to do business.”
Warren is a former owner of an ice cream truck business, as well as a former law firm partner.
The bill now heads to the Senate for consideration.