Pennsylvania – Legislation Effective February 21 Revises Business Entity Statutes
February 13, 2017
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.