Pennsylvania – Legislation effective July 1 modernizes the law on corporations and other entities

Pennsylvania – Legislation effective July 1 modernizes the law on corporations and other entities

January 5, 2015

House Bill 2234 (Act No. 2014-172) signed by the governor October 22 and effective July 1, 2015 modernizes the law on corporations and unincorporated associations by adding provisions on names, mergers, interest exchanges, conversions, divisions, domestications and registration of foreign associations to do business .  Current law requires a business entity involved in a merger, conversion, division, interest exchange or domestication to first dissolve and obtain tax clearance.