Entities Affected: LLCs Senate Bill 220, effective August 1, 2016, amends the LLC law to provide that the articles of organization or a written operating agreement may alter the general rule that a member’s membership ceases upon death, incompetency, dissolution or termination.

Entities Affected: Corporations House Bill 289, effective August 1, 2016, provides that when the existence of a corporation terminates, its juridical personality continues for the purpose of disposing of immovable property pursuant to a resolution of the board of directors.

Entities Affected: Corporations House Bill 714, effective August 1, 2016, amends the corporation law regarding various topics including, but not limited to, exculpation of liability, shareholder participation by remote means; quorum and voting; indemnification; business opportunities; and reinstatement of certain corporations.

Entities Affected: LLCs House Bill 19, effective March 10, 2016 and applicable to taxable periods beginning on or after January 1, 2017, amends the law relating to the entities to which the corporate franchise tax applies.

We would be happy to provide copies of any of these bills, please contact us at globalparalegalnetwork@gmail.com