Beginning July 1, 2016 these changes to Virginia Corporate Legislation may effect your business:
2016 Virginia House Bill 955
· Restructures the Virginia Limited Liability Company Act by amending and relocating provisions regarding the conversion of domestic LLCs into domestic corporations or business trusts into a new article (Title 13.1. Corporations, Chapter 12, Article 15) of the Virginia Code. Provisions regarding the conversion of domestic partnerships and limited partnerships into LLCs have also been amended and relocated to new Article 15.
· Makes changes to the required contents of Articles of Entity Conversion for domestic corporations, LLCs, partnerships, limited partnerships, and business trusts.
· Adds a provision requiring foreign LLCs to file an amendment to abandon or change a designated name adopted for use in the Commonwealth due to their name not satisfying Virginia’s usual LLC name requirements.
· Requires foreign LLCs registered in Virginia to include a statement in any application for cancellation that either they have filed all required returns and paid all related state taxes, or that no such returns are required to be filed or taxes paid.
· Makes changes to provisions relating to mergers of domestic LLCs with foreign LLCs and other business entities, including changes to the required contents of Articles of Merger and the rules related to abandoning a merger.
· Makes changes to provisions relating to domestication of a foreign LLC, including changes to the required contents of Articles of Domestication and the rules related to abandoning domestication.
· Revises provisions relating to business trusts and conversions.
Contact your CLASCORP™ representative for further information at 800-737-8012 or firstname.lastname@example.org.
CLASCORP™ is pleased to welcome Kathy Jo Young as UCC Service Manager. Bringing years of industry experience, Young ensures clients that she will “continue to provide you with the same high caliber service you have come to expect”. Please make note of my new email address: email@example.com and contact me if you need any additional information on the wide array of services provided by CLASCORP™.
Located in Olympia, WA, CLASCORP is a worldwide public records firm offering the full spectrum of due diligence solutions including:
|· UCC eZFILE Filing & Portfolio Management
||· County Lien & Litigation Searching
|· State Level UCC Filing and Searching
||· Document Recording & Publishing
|· Online UCC & Lien Search System
||· Real Property & Title Research
|· Corporate Filing & Document Retrieval
||· Apostilles & Legalizations
|· Registered Agent Representation
||· Flood Determinations, 4506T, SSA89
CLASCORP™ prides itself in providing you and your clients’ with the best service at the best price.
THE CLASCORP SERVICE DIFFERENCE
Customer Satisfaction is about providing responsive service with integrity, simplicity and excellence. This is the CLASCORP™ way of meeting and exceeding customer expectations.
Beginning on July 1, 2016, a person who is under the age of thirty who resides within West Virginia is exempt from paying the fees for the following filings:
- Articles of incorporation of a domestic, for-profit corporation, for which he or she is an incorporator;
- Articles of incorporation of a domestic, nonprofit corporation for which he or she is an incorporator;
- Articles of organization of a domestic limited liability company, for which he or she is a member;
- Agreement of a domestic general partnership, for which he or she is a partner;
- Certificate of a domestic limited partnership, for which he or she is a partner.