Viewing: Jurisdictional Updates

Jul 21

July 21, 2017

Louisiana – Revisions to Business Corporations Act

Louisiana – Revisions to Business Corporations Act

House Bill 310 (Act No. 57) signed by the governor June 3 and effective August 1 revises the Business Corporations Act to extend the period for reinstatement of a terminated corporation from 3 to 5 years and includes changes regarding quorum requirements for shareholders, venue for derivative proceedings, and personal jurisdiction over a non-resident who is or has been a director of a domestic corporation.
Jul 19

July 19, 2017

Washington – Legislation Amends the Business Corporation Act

Washington – Legislation Amends the Business Corporation Act

Senate Bill 5011 (Chapter 28) signed by the governor April 17 and effective July 23 amended the business corporation act to permit (1) ratification of defective corporation actions; (2) designation of forum court for filing internal disputes in governing documents;  (3) transfer of assets to a wholly-owned subsidiary corporation without a shareholder vote approving the transfer; (4) a short form merger without shareholder approval if the parent owns 90% of the subsidiary; and (5) a shareholder voting agreement is not…
Jul 18

July 18, 2017

West Virginia – Bill Requires Registration and Indexing of Additional Fictitious Names

West Virginia – Bill Requires Registration and Indexing of Additional Fictitious Names

Senate Bill 602 signed by the governor April 24 and effective July 6 requires registration and indexing of fictitious names used by sole proprietors, individuals, or general partnerships.
Jul 13

July 13, 2017

Hawaii – Third Quarter Annual Business Reports Due

Hawaii – Third Quarter Annual Business Reports Due

The Department of Commerce and Consumer Affairs (DCCA) Business Registration Division (BREG) posted a reminder that third quarter annual business reports are due for entities which registered in Hawaii between July and September.
Jul 7

July 7, 2017

Delaware – Legislation Alters Various Fees Assessed by the Secretary of State

Delaware – Legislation Alters Various Fees Assessed by the Secretary of State

House Bill 175 (Chapter 53) signed by the governor and effective July 2 alters various fees assessed by the Secretary of State. Most changes to the fees and taxes assessed will take effect on August 1, 2017; however, increases to the maximum franchise tax and the late penalty for the filing of an annual franchise tax report shall take effect for the tax year beginning January 1, 2017, and the increase of the assumed par value multiplier for calculation of…
Jul 5

July 5, 2017

New Jersey – Budget Issue Resolved All State Offices Open

New Jersey – Budget Issue Resolved All State Offices Open

The governor signed a new budget to end a three-day closure of state government offices.
Jul 5

July 5, 2017

Maine – Budget Issue Resolved All State Offices Open

Maine – Budget Issue Resolved All State Offices Open

State government offices resumed services after a budget was signed and the governor rescinded the state’s civil emergency to suspend non-essential services.
Jul 5

July 5, 2017

Important Massachusetts court decision highlights state’s perspective on corporate governance

Important Massachusetts court decision highlights state’s perspective on corporate governance

In its seminal decision on March 6, 2017 regarding EMC’s merger with Dell, IBEW Local No. 129 v. Tucci, the Supreme Judicial Court clarified the question of directors’ fiduciary duty under Massachusetts corporate law and resolutely distinguished the law of Massachusetts in this area from the law of Delaware. The just-released 2017 Edition of Massachusetts Laws Governing Business Entities includes a special section with in-depth analysis of the impact of the case and the duties now required of Massachusetts corporate…
Jul 3

July 3, 2017

New Jersey – All Non-essential State Offices Closed Until Further Notice Due to Budget Issues

New Jersey – All Non-essential State Offices Closed Until Further Notice Due to Budget Issues

All non-essential state offices are closed since the legislature did not pass a budget by June 30. Online services including retrieval of copies and certificates of good standing are available. Any documents which are filed online including formations, reinstatements, dissolutions and withdrawals can be processed. No paper documents may be submitted for filing by the Department of Treasury Division of Revenue and Enterprise Services. Evidence to be picked up at state filing offices is not available, and there is no…
Jul 3

July 3, 2017

Maine – All State Offices Closed Until Further Notice Due to Budget Issues

Maine – All State Offices Closed Until Further Notice Due to Budget Issues

All state offices are temporarily closed until further notice since a budget was not passed Friday, June 30. Over the counter corporate filings, document retrieval and UCC requests and Apostille/Authentication services are not available. At this time online services are available.