Dec 9

December 9, 2016

Michigan – LLC and PLLC Annual Statements Due by February 15, 2017

Michigan – LLC and PLLC Annual Statements Due by February 15, 2017

The Department of Licensing and Regulatory Affairs Corporations, Securities and Commercial Licensing Bureau has mailed annual statements for LLCs and professional LLCs to Michigan resident agents for 419,315 LLCs and 12,199 PLLCs. The annual statements must be filed online by February 15.  An LLC that fails to file an annual statement for 2 years is not in good standing, its name will be available for use by another entity and no document will be filed for the LLC except a…
Dec 8

December 8, 2016

Pennsylvania – Amends Title 15 for Corporations and Unincorporated Associations and Modernizes the Law on LLCs, LPs, GPs and LLPs.

Pennsylvania – Amends Title 15 for Corporations and Unincorporated Associations and Modernizes the Law on LLCs, LPs, GPs and LLPs.

House Bill 1398 (Act No. 170) signed by the governor November 21 and effective February 21, 2017 amends Title 15 (Corporations and Unincorporated Associations) and modernizes the law on limited liability companies, limited partnerships, general partnerships and limited liability partnerships.  Among other things, LLCs and LLPs must file a certificate of termination to terminate existence, and benefit companies may be formed as LLCs.
Dec 7

December 7, 2016

New York – Amendment to the Not-For-Profit Corporation Law

New York – Amendment to the Not-For-Profit Corporation Law

Assembly Bill 10365 (Chapter 466) signed by the governor November 28 and effective May 28, 2017 amends the Not-for-Profit Corporation Law to correct certain inconsistencies in the Nonprofit Revitalization Act of 2013 with respect to charitable corporation and trust governance.
Dec 6

December 6, 2016

Arkansas – December 31 Deadline to Pay Franchise Taxes to Avoid Revoked Status

Arkansas – December 31 Deadline to Pay Franchise Taxes to Avoid Revoked Status

The Secretary of State Business & Commercial Services posted a reminder that December 31 is the deadline to pay delinquent franchise tax to avoid revoked status.
Dec 5

December 5, 2016

New York – Law Allows Certain Not-For-Profit Corporations to Convert to a For-Profit Corporation

New York – Law Allows Certain Not-For-Profit Corporations to Convert to a For-Profit Corporation

Assembly Bill 8116 (Chapter 451) signed by the governor and effective November 28 until May 28, 2017 allows certain not-for-profit corporations to convert to a for-profit corporation if the incorporator submits  to the attorney general a certification that legal advice had not been sought or received prior to incorporation, the entity at no time received tax exemption or other benefits of a not-for-profit corporation, the entity did not solicit and receive private or public grants or charitable donations, and the…
Dec 1

December 1, 2016

Washington – All Business Entity Position Titles will be Reflected as Governor Effective December 1

Washington – All Business Entity Position Titles will be Reflected as Governor Effective December 1

The Corporations and Charities Division posted notice of a procedure change.  Effective December 1, all business entity position titles will be reflected as Governor in the filing office’s searchable database. The procedure change is based on RCW 23.95 which became effective January 1, 2016.  The definition of Governor in Section 23.95 is as follows: (12) “Governor” means: (a) A director of a business corporation; (b) A director of a nonprofit corporation; (c) A partner of a limited liability partnership; (d)…
Nov 29

November 29, 2016

Washington D.C. – DCRA Opening Late on December 1

Washington D.C. – DCRA Opening Late on December 1

The Department of Consumer and Regulatory Affairs (DCRA) advised that it will open one hour late at 10:30 am on Thursday, December 1, to facilitate staffwide training. Online services on the DCRA website including the DC Business Portal are available 24/7.
Nov 28

November 28, 2016

maryland-reit

Important changes to Maryland REIT Law

Maryland’s General Assembly made significant changes to the Maryland General Corporation Law (the “MGCL”) and the Maryland REIT Law (the “MRL”) during the 2016 Legislative Session, including amendments relating to duties and immunities of directors and trustees. The 2016 Edition of Maryland & The District of Columbia Laws Governing Business Entities captures those changes and more. This resource is the most comprehensive collection of annotated business entity statutes available for these jurisdictions. The 2016 Edition includes the latest amendments to…
Nov 28

November 28, 2016

Rhode Island – Reminder LLC Annual Report Late Fee Goes Into Effect December 2

Rhode Island – Reminder LLC Annual Report Late Fee Goes Into Effect December 2

The Secretary of State posted a reminder to all LLCs that the 2016 Annual Report was due for filing on Tuesday, November 1, and the filing fee is now $50.00. To avoid paying a late filing fee, LLC must file prior to December 2 when the fee increases to $75.00. Business corporations file between January 1 and March 1 of each calendar year. Non-profit corporations file during the month of June. Entities organized during the calendar year do not owe…
Nov 22

November 22, 2016

nevada-business-law

100+ Statutory Changes to Nevada Business Laws

The 78th Session of the Nevada Legislature enacted more than 140 statute changes in the Business Associations title and related titles. The 2016 Edition of Nevada Laws Governing Business Entities—the most comprehensive collection of annotated business entity statutes available for the state of Nevada—captures those changes and more. Changes affected several business entities, including corporations, limited liability companies and limited partnerships. Among the changes were: New procedures for the ratification of defective corporate acts; acknowledgment of forms of virtual communication…