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HOUSE DOCKET, NO. 3261         FILED ON: 1/18/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1747

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Paul W. Mark

_______________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
              Court assembled:

              The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to job creation through employee ownership.

_______________

PETITION OF:

 

Name:

District/Address:

Paul W. Mark

2nd Berkshire

Denise Andrews

2nd Franklin

Gailanne M. Cariddi

1st Berkshire

Thomas P. Conroy

13th Middlesex

Sean Garballey

23rd Middlesex

Louis L. Kafka

8th Norfolk

Denise Provost

27th Middlesex

Aaron Vega

5th Hampden

Daniel A. Wolf

Cape and Islands

Ellen Story

3rd Hampshire


HOUSE DOCKET, NO. 3261        FILED ON: 1/18/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1747

By Mr. Mark of Peru, a petition (accompanied by bill, House, No. 1747) of Paul W. Mark and others for legislation to require business owners to notify employees of their eligibility to purchase or bid on said business prior to transfers of the business.  Labor and Workforce Development. 

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 2305 OF 2011-2012.]


The Commonwealth of Massachusetts
 

_______________

In the Year Two Thousand Thirteen

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An Act relative to job creation through employee ownership.
 

              Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

              SECTION   1.     Section 6 of Chapter 23D of the general laws is hereby amended by adding the following:- Within seven days of signaling intent to sell or transfer ownership of any business corporation or plant within the domain of said business corporation, the president or chief executive officer of said business corporation must notify its employees in writing that they are eligible to purchase or bid on said business corporation through a cooperative or employee stock ownership program, and provide information to contact the Office of Employee Involvement and Ownership. Such notice must be displayed in a prominent common area of the facility or facilities affected by said potential sale.

              The employees of any business corporation whose president, chief executive officer, or principal owners have signaled an intent to sell or transfer ownership of said business corporation or plant within the domain of said business corporation shall have the right of first refusal in bidding to purchase said business corporation through a cooperative or employee stock ownership program.

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