Entities Affected: LLCs

House Bill 372, effective August 1, 2016, amends the LLC law regarding service of process; series of members, managers or LLC interests or assets; member cessation upon bankruptcy; voting; LLC interest assignments; dissolution; and revocation of dissolution.

Entities Affected: Corporations House Bill 371, generally effective August 1, 2016 except as noted in the Bill, amends the General Corporation Law regarding definitions, Chancery Court jurisdiction, number of directors, director committees, stock certificates, mergers, consolidations, stockholder appraisal rights, revocation of dissolution, and renewal, restoration and revival.

Entities Affected: Partnerships House Bill 338, effective August 1, 2016, amends the Partnership Law regarding partner voting.

Entities Affected: Limited Partnerships House Bill 367, effective August 1, 2016, amends the LP Law regarding service of process; series of partners; partnership interests or assets; voting; general partner admissions and withdrawals; partnership interest assignments; dissolution; and revocation of dissolution.

Entities Affected: Statutory Trusts Senate Bill 243, effective August 1, 2016, amends the statutory trust statute regarding definitions; trust series; management; dissolution; formation and existence; powers of attorney and proxies; document ordering; and inspection of records.

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