Several states achieved important business legislation milestones during the month of April. Please see below for a summary of the new laws in Alabama, Delaware, Georgia, Louisiana, Ohio and Oklahoma.
Business Organization Legislation
ALABAMA
Senate Bill 112, which would amend the Alabama Business and Nonprofit Entities Code, passed the Senate on 4/4/2024. The bill would clarify that the location of a registered agent must be in the state and make other amendments to be consistent with Delaware law changes.
Senate Bill 204, which would repeal the statute requiring corporations to provide an annual report to the Secretary of State, passed the Senate on 4/4/2024.
DELAWARE
House Bill 338, which would make various updates to the statutory trust law, passed the House on 4/23/2024.
GEORGIA
The governor signed House Bill 876 on 4/23/2024 to revise the incorporation process for banks and trust companies. The new law takes effect on 7/1/2024.
LOUISIANA
House Bill 892 was introduced on 4/2/2024 to adopt the Louisiana Decentralized Unincorporated Nonprofit Association Act. The bill would provide for the formation and administration of decentralized unincorporated nonprofit associations.
OHIO
House Bill 301 (2023), which would amend non-profit corporations law regarding dissolutions, passed the Senate on 4/24/2024.
OKLAHOMA
The governor signed Senate Bill 620 (2023) on 4/23/2024 to make numerous changes to the state business entity law. The new law takes effect on 11/1/2024.
The governor signed Senate Bill 649 (2023) on 4/23/2024 to address series of LLCs. The bill would provide for the creation, regulation, and governance of protected series and registered series of LLCs. The new law takes effect on 11/1/2024.
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For informational purposes only; content does not constitute legal advice.