2010 Senate Bill 1174

House Roll Call 153: Passed

To rewrite the rules for corporate acquisitions so as to raise obstacles to the acquisition of a controlling interest in the Fremont Insurance Company (which is located in the district of the bill sponsor) by the Indianapolis-based Steak and Shake Corporation. Specifically, the bill would require a two-thirds supermajority of shareholders to vote in favor of the sale if the current board of directors opposes being taken over, but only for a "domestic (Michigan-based) insurer with 200 employees or fewer".

83 Yeas / 24 Nays
Democrat (55 Yeas / 9 Nays)
Republican (28 Yeas / 15 Nays)
Excused or Not Voting (2)