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Kentucky · 2025 Regular Session · Bill

HB 388: AN ACT relating to business corporations.

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

HB 388 is a bill introduced in the Kentucky House on February 6, 2025. According to its official title, it concerns: AN ACT relating to business corporations. Most recent recorded action (February 12, 2025): to Judiciary (H).

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Amend KRS 271B.8-300 to define terms; provide that the business judgment rule shall not be an affirmative defense where the alleged damages suffered by the corporation are the result of diversity, equity, and inclusion (DEI) initiatives or environmental, social, and governance (ESG) investing; provide that a director shall not be considered to be acting in good faith if he or she takes any action to implement or maintain DEI initiatives or ESG investing; provide that actions taken as a director, or failure to take action as a director, regarding the implementation or maintenance of DEI initiatives or ESG investing may provide the basis for monetary damages or injunctive relief; amend KRS 271B.7-400 to require the court to award attorney's fees, costs, and expert witness fees and expenses to a plaintiff who prevails in a derivative action where the damages suffered by the corporation were the result of DEI initiatives or ESG investing; allow the court to award compensatory and punitive damages.

Sponsors

NameRolePartyChamberDistrict
No sponsor recorded in source data.

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. to Judiciary (H)
  2. to Committee on Committees (H)
  3. introduced in House

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source