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…
Nov 17

November 17, 2016

California – Bill Clarifies Digital Signature Usage

California – Bill Clarifies Digital Signature Usage

Assembly Bill 2296 (Chapter No. 144) signed by the governor August 18 and effective January 1, 2017 clarifies that a digital signature may be used to satisfy the requirements of an electronic signature under the Uniform Electronic Transactions Act.
Nov 15

November 15, 2016

Rhode Island – Annual Report Late Fee Effective December 2, 2016

Rhode Island – Annual Report Late Fee Effective December 2, 2016

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 14

November 14, 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 11

November 11, 2016

Texas – Business Information for Veterans

Texas – Business Information for Veterans

The Secretary of State has posted Business Information for Veterans.  Owners of new business entities formed between January 1, 2016 and January 1, 2020 who are honorably discharged veterans may complete a Comptroller Certification Form to obtain an exemption from certain filing fees and the Texas franchise tax for the first five years of operations.