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  www.incspot.com     |     Contact Us     |     Archive DECEMBER 2006

Statutory Updates
Business Entity Filings/UCC Updates

California
Senate Bill 1183 (Chapter 57) effective January 1, 2007 eliminates a two-year sunset provision for a filed amendment to articles of incorporation that imposes a “supermajority vote” and also provides that a foreign corporation shall not be considered to be transacting intrastate business merely because of its status as an owner of various types of interests in business entities, which are transacting intrastate business. The bill text can be accessed by clicking here.

Florida
According to the Department of State, Division of Corporations, Bureau of Commercial Recording’s Registration/Qualification Section, the following state trademark changes are effective January 1, 2007:

REGISTRATIONS -the date of expiration for all new trademark/service registrations filed on or after January 1 will be reduced from 10 years to 5 years from the date of registration, and applications for new registrations may be submitted via the Dept. of State's E-File System.

RENEWALS - all trademark/service marks renewed on or after January 1 will be only be renewed for a period of 5 years instead of 10, and a specimen must be submitted when renewing a mark registration.

ASSIGNMENTS - the fee to file an assignment is now $50 per class instead of a flat $50.

CERTIFICATES/CERTIFIED COPIES - certificates will now include a description of the good(s) and/or service(s); owners can now order certificates of registration for $8.75l and a certified copy of a trademark document is $52.50.

REJECTS - rejected applications must be resubmitted within 90 days instead of 60 days.

NEW FILINGS - Applicants/registrants must now submit a "CERTIFICATE OF CHANGE OF NAME OF THE REGISTRATION OR APPLICANT OF A FLORIDA TRADEMARK AND/OR SERVICE MARK REGISTRATION" in order to change the owner's name on the trademark/service mark record. The filing fee is $50.

DELETED FILINGS - trademarks/service marks can no longer be reserved.

Florida Trademark filing forms can be accessed by clicking here.

Illinois
Senate Bill 2772 sent to governor Dec 14 would amend the Business Corporation Act and General Not for Profit Corporation Act regarding open meeting requirements for board of directors of residential cooperatives. Click here to read the full text of the bill.

House Bill (Public Act No. 94-889) effective January 1, 2007 amends the Business Corporations Act to require that fair value (instead of just value) be paid for a fractional share that is paid in cash and defines "fair value". Click here to read the full text of the bill.

West Virginia
The following bills were enacted November 30 in special session:

Senate Bill 2004 (Act No. 5) reduces the rate of business franchise tax for taxable years after January 1, 2007. Click here to read the full text of the bill.

Senate Bill 2005 (Act No. 6) reduced the corporation net income tax rate on domestic and foreign corporations engaging in business or deriving income for property, activity or other sources in the state. Click here to read the full text of the bill.

Senate Bill 2008 (Act No. 9) increases personal income withholding tax on source income for certain non-residents. Click here to read the full text of the bill.

United States
Senate Bill 4044, the Religious Liberty and Charitable Donation Clarification Act of 2006, clarifying the treatment of certain charitable contributions under the bankruptcy code, passed the House Dec 6 and was enrolled and cleared for the White House. Click here to learn more.


Motor Vehicle Updates

Missouri
If you are bringing a vehicle into the state of Missouri, the DMV will accept an out of state VIN Inspection form if it is completed and signed by a law enforcement officer from the state where the vehicle is currently registered.

Texas
When registering a vehicle in the county where it is garaged you will be required to provide an original insurance card with the 800 phone number of the insurance company printed on it. When a clerk processes the registration they will call the insurance company to verify the insurance on that vehicle is current and valid.

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CSCFlash™ is not intended to provide legal or professional advice. If such advice is required, you should seek the services of an attorney or other professional. CSC cannot guarantee the completeness or accuracy of the information in CSCFlash.