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Statutory Updates

Alabama

Senate Bill 425 (Act 2007-404) was signed by governor June 13 and becomes effective August 13 and provides for contents and form of effective financing statement in farm products. To access text of bill, execute search for SB425 from
http://alisdb.legislature.state.al.us/acas/ACASLogin.asp

Delaware

Effective August 1, 2007, the Department of State Division of Corporations will increase UCC filing and expedited fees for UCC documents communicated on paper or in a paper based format including faxes to:
  • $75.00 for a document of 1 to 4 pages, $2.00 per page for additional pages;
  • $25.00 per additional name to be indexed if more than two debtor-names on the financing statement;
  • $200.00 for 2 hour service;
  • $100.00 for same day service; and
  • $50.00 for 24-hour service.
Information regarding the paper filing fee increase can be accessed from
http://www.corp.delaware.gov/ucc.shtml

Annual amendments intended to keep the Delaware business entity laws current are expected to be enacted by the June 30 end of the legislative session and the bills’ provisions will become effective August 1, 2007.

House Bill 160 amending the General Corporation Law (Title 6, Chapter 1) passed the House June 14 and was reported out of committee in Senate on June 20.
http://www.legis.state.de.us/LIS/LIS144.nsf/2bede841c6272c888025698400433a04/a8368dd4be0d8f90852572cf004e907b?OpenDocument

Senate Bill 95 amending the Revised Uniform Limited Partnership Act (Title 6, Chapter 17) passed the Senate May 15 and was reported out of committee in the House June 13.
http://www.legis.state.de.us/LIS/LIS144.nsf/vwLegislation/SB+95?Opendocument

Senate Bill 96 amending the Limited Liability Company Act (Title 6, Chapter 18) passed the Senate May 15 and was reported out of committee in the House June 13.
http://www.legis.state.de.us/LIS/LIS144.nsf/vwLegislation/SB+96?Opendocument

Senate Bill 98 amending the Revised Uniform Partnership Act (Title 6, Chapter 15) Passed the Senate May 15 and was reported out of committee in the House June 12.
http://www.legis.state.de.us/LIS/LIS144.nsf/vwLegislation/SB+98?Opendocument

Florida

Effective July 1, 2007 by administrative ruling the Florida Division of Corporations will require the name of a LLC to be distinguishable upon the records of the Secretary of State from the names of entities formed or registered to do business with the Secretary of State. Senate Bill 252/House Bill 151 enrolled May 3 and effective January 1, 2008 contained this provision.
http://www.flsenate.gov/cgi-bin/view_page.pl?Tab=session&Submenu=1&FT=D&File=sb0252er.html&Directory=session/2007/Senate/bills/billtext/html

Senate Bill 2038 enrolled June 13 provides for real property electronic recording.
http://www.flsenate.gov/session/index.cfm?BI_Mode=ViewBillInfo&Mode=Bills&SubMenu=1&Year=2007&billnum=2038

Georgia

Senate Bill 14 which would have changed sunset dates for real estate and personal property filing fees was vetoed by governor May 30.
http://www.legis.ga.gov/legis/2007_08/pdf/sb14.pdf

Senate Bill 234 (Act No. 242) signed by governor May 24 provides for filing fees for certificates of conversion of domestic entities to foreign entities.
http://www.legis.state.ga.us/legis/2007_08/sum/sb234.htm

Illinois

Senate Bill 355 passed both houses on May 30 and amends UCC Section 9-516 to provide that filing does not occur with respect to a record that a filing office refuses to accept.
http://www.ilga.gov/legislation/BillStatus.asp?DocNum=355&GAID=9&DocTypeID=SB&LegId=27988&SessionID=51&GA=95

Senate Bill 319 passed both houses May 31 and creates the Uniform Real Property Electronic Recording Act.
http://www.ilga.gov/legislation/BillStatus.asp?DocNum=319&GAID=9&DocTypeID=SB&LegId=27932&SessionID=51&GA=95

Senate Bill 368 amends the business entity statutes and among other things provides guidelines for electronic filing of documents.
http://www.ilga.gov/legislation/fulltext.asp?DocName=&SessionId=51&GA=95&DocTypeId=SB&DocNum=368&GAID=9&LegID=28002&SpecSess=&Session=

Senate Bill 1435 passed both houses on May 31 and provides that Secretary of State shall not allow another corporation to use the name of a domestic corporation that has been administratively dissolved until 3 years have elapsed.
http://www.ilga.gov/legislation/fulltext.asp?DocName=09500SB1435eng&GA=95&SessionId=51&DocTypeId=SB&LegID=29524&DocNum=1435&GAID=9&Session

Senate Bill 1576 revokes authority of foreign corporation or foreign LLC when Secretary of State receives copy of memorandum of judgment entered for money owed to a unit of local government or school district together with statement filed by its attorney that the judgment has not been satisfied.
http://www.ilga.gov/legislation/fulltext.asp?DocName=09500SB1576eng&GA=95&SessionId=51&DocTypeId=SB&LegID=29724&DocNum=1576&GAID=9&Session

Maine

House Bill 656/LR 1029 (Public Law No. 228) signed by governor June 5 provides a remedy to a person who has been adversely affected by the filing of a lien against the person’s personal property by an unauthorized filer.
http://janus.state.me.us/legis/LawMakerWeb/externalsiteframe.asp?ID=280023489&LD=867&Type=1&SessionID=7

House Bill 1292/LR 1031 (Public Law No. 323) signed by governor June 19 creates the Model Registered Agents Act effective July 1, 2008.
http://janus.state.me.us/legis/LawMakerWeb/externalsiteframe.asp?ID=280025000&LD=1853&Type=1&SessionID=7

Senate Bill 608/LR 2219 (Public Law No. 229) signed by governor June 12 amends the Business Corporation Act to reflect changes by ABA to model business corporation act.
http://janus.state.me.us/legis/LawMakerWeb/externalsiteframe.asp?ID=280024653&LD=1741&Type=1&SessionID=7

Senate Bill 642/LR 1030 (Public Law No. 231) signed by governor June 5 makes uniform changes to filing fees and annual report requirements.
http://janus.state.me.us/legis/LawMakerWeb/externalsiteframe.asp?ID=280024759&LD=1806&Type=1&SessionID=7

Nevada

Assembly Bill 25 (Chapter No. 325) signed by governor June 4 requires business entities to maintain ownership information at the registered office or principal place of business and authorizes suspension or revocation of authority by Secretary of State for failure to comply.
http://www.leg.state.nv.us/74th/Reports/history.cfm?ID=54

Senate Bill 168 (Chapter No. 106) signed by governor May 22 adopted the Uniform Assignment of Rents Act.
http://www.leg.state.nv.us/74th/Reports/history.cfm?ID=446

Oregon

House Bill 2090 (Chapter No. 186) signed by governor May 31 authorizes the Secretary of State to refuse to file certain documents containing Social Security Number, state ID number, driver license number, credit card or account number and deletes the requirement that certain documents filed with Secretary of State contain Social Security Number, Federal Employer Identification Number and taxpayer identification number.

House Bill 2826 (Chapter No. 254) allows articles of incorporation to contain provisions authorizing or directing corporations to conduct business in environmentally and socially responsible manner.

Senate Bill 176 passed both chambers and authorizes Department of Revenue to transfer certain tax liabilities to successor business entity of taxpayer.

To access bill text, click on http://www.leg.state.or.us/searchmeas.html and Search Measures with bill number above.

Texas

Senate Bill 1540 signed by governor June 16 and effective immediately changes debtor name requirements for individuals and registered organizations in UCC Revised Article 9-503(a).
http://www.capitol.state.tx.us/tlodocs/80R/billtext/html/SB01540F.htm

Senate Bill 1542 signed by governor May 21 and effective September 1 relates to annual registration statement filed by insurer that is a member of an insurance holding company.
http://www.capitol.state.tx.us/tlodocs/80R/billtext/html/SB01542F.htm

House Bill 2219 signed by governor May 25 and effective September 1 provides for service of process on financial institutions.
http://www.capitol.state.tx.us/tlodocs/80R/billtext/html/HB02219F.htm


Motor Vehicle Updates

South Carolina

1. The fee for a duplicate title has increased to $20.00.
2. Over the counter - FAST TITLES have increased to $35.00.

Wyoming

Duplicate Title requests for a title with an active lien requires either a lien release or letter from the lien holder authorizing the lien to be transferred to the new duplicate title.

 

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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.