Category: Uncategorized

These changes in Nebraska House Bill 758 may affect your business:

Effective Date: July 21, 2016

 

These changes in Colorado House Bill 16-1330 will allow a correction statement filing and may affect your business:

Effective Date: September 4, 2016

Details about delivering to the secretary of state, a statement of correction filing:

• You may file to revoke a filed document that was delivered to the secretary of state for filing in error.
• A statement of correction is effective on the effective date of the filed document it corrects or revokes.

SOURCE:http://www.leg.state.co.us/clics/clics2016a/csl.nsf/fsbillcont2/C012FCA3228C153C87257F4F00557C91/$FILE/1330_enr.pdf

These changes to Arizona internal governance of corporations may affect your business:

Effective Date: August 6, 2016

• The period for disclosure of felony convictions for fraud in the Certificate of Disclosure is changed to five years instead of seven.
• The foreign corporation is required to provide the address of its principle office in its state of incorporation, or, if none, the corporation must provide the street address of its registered agent in the foreign jurisdiction.
• Par value of shares is no longer required on the application for authority.
• The bill eliminates the application of Authority. The bill clarifies that both certified copies from the foreign jurisdiction and articles of amendment will be required if the corporation changes its name, duration, or domicile, or if anything on the original Application was inaccurate when filed.
• The bill creates a right of action that the corporation or LLC, its creditors, and shareholders or members, may exercise against any person that authorizes or signs a document delivered for filing with the A.C.C. that the person knows contains false or misleading information. The prevailing party may be awarded reasonable attorney fees.

SOURCE: http://www.azleg.gov/legtext/52leg/2r/bills/sb1356p.pdf

Contact your CLASCORP™ representative for further information at 800-737-8012 or orders@clascorp.com.

These changes to Alabama tax credit for small businesses may affect you:

Effective Date: July 25, 2016

House Bill 36, effective July 25, 2016, enacts the Alabama Small Business and Agribusiness Jobs Act, which enacts a tax credit for small businesses that create jobs meeting specific criteria during a given tax year. The tax credit will expire on January 1, 2019 unless legislature extends it.

SOURCE:http://alisondb.legislature.state.al.us/ALISON/SearchableInstruments/2016RS/PrintFiles/HB36-enr.pdf

These changes to Indiana Business and Association Law may effect your business:

2016 Indiana House Bill 1336

• Requires that an application to reserve or renew a reservation of a name and a notice of transfer of a reserved name must be filed with the secretary of state electronically and makes the corresponding changes to the fees.
• Establishes requirements concerning plans or filed documents that include terms that are dependent on facts objectively ascertainable outside the plan or filed document for limited liability partnerships, limited partnerships, nonprofit corporations, and limited liability companies.
• Provides that the name of a limited liability company must be distinguished from the name of any limited liability company or other business entity reserved or organized under the laws of Indiana or authorized to transact business in Indiana. (Current law requires that the name must be distinguished from any limited liability company or other business entity reserved or organized under the laws of Indiana or qualified to transact business as a foreign limited liability company in Indiana.)
• Allows limited liability companies to organize as series limited liability companies.
• Adds a fee for filing: (A) articles of organization for a master limited liability company; (B) applications for certificate of authority series; and (C) articles of designation.

SOURCE: http://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+CHAP0288

Contact your CLASCORP™ representative for further information at 800-737-8012 or orders@clascorp.com.

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.

SOURCE: http://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+CHAP0288

Contact your CLASCORP™ representative for further information at 800-737-8012 or orders@clascorp.com.

 

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:  kathyjo@clascorp.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.

SOURCE: http://www.legis.state.wv.us/Bill_Text_HTML/2016_SESSIONS/RS/bills/HB2897%20SUB%20ENR.pdf

IL HB4449

CORPORATIONS-DISSOLUTION

Illinois Bill HB4449 to affect Corporate Dissolutions

• Amends the Business Corporation Act of 1983 and the General Not For Profit Corporation Act of 1986.
• Requires the president, vice-president, secretary, assistant secretary, treasurer, or other officer duly authorized by a corporation’s board of directors to execute and verify (rather than execute) certain documents required to be filed in the office of the Secretary of State.
• In regard to corporations organized under the General Not For Profit Corporation Act of 1986, provides that the Secretary of State may dissolve any corporation administratively if it has failed to elect and maintain at least 3 directors.
• Provides that failure to receive a notice of administrative dissolution shall not relieve a corporation of its obligation to pay the filing fee and any penalties due or invalidate the validity thereof.
• Amends the Limited Liability Company Act. Provides that the Secretary of State may dissolve any limited liability company administratively if it has failed to appoint and maintain a registered agent in Illinois (rather than if it has failed to appoint and maintain a registered agent in Illinois within 60 days after a registered agent’s notice of resignation).
• Provides that the name of a series with limited liability must commence with the entire name of the limited liability company, as set forth in its articles of organization (rather than articles of incorporation) and be distinguishable from the names of the other series set forth in the articles of organization.
• Effective July 1, 2016.

 

Contact your CLASCORP™ representative for further information at 800-737-8012 or orders@clascorp.com.