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Snyder vetoes bill to update corporate officer liability law

Governor says upcoming bill provides better option

Jan. 21, 2014

LANSING, Mich. – Gov. Rick Snyder today vetoed Senate Bill 64 of 2013. The measure would have made changes to Michigan’s corporate officer liability law.

“This bill offered many useful updates to corporate officer liability in our state,” Snyder said. “However, work on this issue continued after the bill was approved and I am confident that current legislation being considered provides a better solution to these issues.”

SB 64 was sponsored by state Sen. Jack Brandenburg. Snyder said SB 337, also sponsored by Brandenburg, improves upon SB 64, and resulted from discussions between the Senate, House, Snyder’s administration, and the business community.

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Editor’s note: Snyder’s veto letter can be downloaded here.