Alert Regarding Change in Arkansas Filing Office

Earlier this year the Arkansas legislature passed a law that changes the office designated in A.C.A. § 4-9-501(a)(2) for the filing of financing statements when the debtor is engaged in farming operations and the collateral consists of equipment used in farming operations, farm products or accounts related to farm products.  The designated filing office for these “farming operations” financing statements under current law is the office of the circuit clerk where the debtor is located through December 31, 2009. 

Beginning on January 1, 2010 all farming operations financing statements must be filed in the Office of the Secretary of State.  The filing of any farming operations financing statements, amendments, continuations or terminations with the circuit clerk after that date will be ineffective.

The new law failed to address the transition issues.  The Office of the Secretary of State has drafted special procedures for amending, continuing and terminating the former circuit clerk filings once the new law takes effect.  Fixture filings and those covering timber to be cut or as-extracted collateral that are filed with the circuit clerk are unaffected. 

For additional information please contact Paul Hodnefield, Associate General Counsel for CSC, at communications@cscinfo.com, or you can read CSC's white paper on this important update.

Registered Agent Address Change

Please note that CSC's registered agent address in the state of Washington has changed to the following:

300 Deschutes Way SW
Suite 304
Tumwater, WA 98501

CSC® Media

New titles from CSC® Media: The 2010 Edition of California Laws Governing Business Entities and the 2009 Editions of Florida Laws Governing Business Entities and Maryland & The District of Columbia Laws Governing Business Entities.

CSC® Media, in collaboration with LexisNexis® Matthew Bender®, is pleased to announce the December release of the 2010 Edition of California Laws Governing Business Entities. This resource is the most comprehensive collection of California business entity statutes and the only case-annotated deskbook available for the state.

The 2010 Edition reflects legislative changes through the Seventh Extraordinary Session of the 2009 Legislature, featuring over 90 amendments to the Corporations Code, as well as significant changes to the taxation and unclaimed property provisions. There are over 140 new case annotations from Courts of Appeal and Supreme Court decisions, as well as from federal court decisions construing California law.

Also in this edition are the full texts of recent, significant California opinions, including Yamaha, concerning service of process on a foreign corporation, and In re FairWageLaw, concerning the due process rights of a dissenting shareholder in a voluntary dissolution action.

Learn more about the 2010 Edition of California Laws Governing Business Entities in this month’s CSCFlash featured article.

Florida Laws Governing Business Entities

CSC also recently released the 2009 Edition of Florida Laws Governing Business Entities, which features almost 100 legislative changes incorporating amendments through the end of the 2009 Session. Noteworthy changes include significant revisions to not-for-profit corporation chapter, including the integration of Revised Model Nonprofit; Corporation Act provisions and the establishment of mutual benefit corporations; changes to Chapter 607 (Corporations) related to the election of directors, resignations and the filling of vacancies, and the furnishing of annual financial statements by electronic transmission; and enhancements to the enforcement tools and regulatory oversight for securities transactions under Chapter 517.

There are 125 new annotations reflecting significant new case law, including cases concerning the indemnification of directors; remedies for minority shareholders; duty of general partner to the limited partners; and the establishment of a partnership through a lease agreement.

Maryland & The District of Columbia Laws Governing Business Entities

Another recent release is the 2009 Edition of Maryland & The District of Columbia Laws Governing Business Entities, which includes amendments to the Maryland General Corporation Law affecting fees, bylaws, annual statements, the right of inspection, and other provisions, as well as changes to the District of Columbia Business Corporation Act provisions governing voluntary and involuntary dissolution. Over 50 new case annotations have been added, including annotations from Tackney concerning conflicts of interest and the good faith presumption. Also included are in-depth analyses of the 2009 legislative and judicial developments in Maryland General Corporation Law and Maryland REIT Law prepared by James J. Hanks, Jr., a partner at Venable LLP.

To order or view other CSC® titles, visit our website at www.cscglobal.com/publications or contact a LexisNexis customer service representative at 1.800.833.9844. Quantity discounts are available.