Article 9 and Lien-Related Legislation Kansas: SB 58, which would address fraudulent liens and UCC financing statements, passed the House as amended on 3/25/2021. The House refused to concur in the Senate amendments and the bill is now in conference
Jurisdictional Updates 3-24-2021
Nebraska – LLC Protected Series Act Amended Legislative Bill 253 signed by the governor March 17 and effective March 18 amended the LLC and the Protected Series Act to clarify (1) fees for designation of protected series filings and (2)
Jurisdictional Updates 3-23-2021
Mississippi – Changes to Insurance Department’s 2021 Annual Company Licensing Renewals The Insurance Department’s 2021 Annual Company Licensing Renewal Notification describes a process change regarding delivery method and payment of invoices and will accept online submission of applications in addition
Legislative Developments 3-19-2021
Article 9 and Lien-Related Legislation Minnesota: Senate Bill 2106 was introduced on 3/12/2021 to address secretary of state matters. Section 11 of the bill includes fraudulent UCC filing provisions based on the hip-pocket amendments to UCC Article 9. Committee assignment
Jurisdictional Updates 3-16-2021
Virginia – Electronic Notarial Legislation House Bill 2064 (Chapter 78) signed by the governor and effective March 11 relates to electronic recording and electronic notarial certificates. https://lis.virginia.gov/cgi-bin/legp604.exe?212+ful+HB2064ER
Legislative Developments 3-12-2021
Article 9 and Lien-Related Legislation Arkansas: HB 1255, which would regulate cross-collateralization clauses, passed the Senate on 3/8/2021 and signed by the governor on 3/10/2021. The bill provides requirements for an enforceable cross-collateralization clause in a security instrument, mortgage or
Jurisdictional Updates 3-10-2021
Arkansas – Secretary of State to Collect Franchise Taxes Beginning March 15 The Secretary of State will begin collecting franchise taxes effective Monday, March 15 according to posted news items at https://www.sos.arkansas.gov/news/detail/franchise-taxes-move-from-dfa-to-sos-beginning-march-15th and https://atap.arkansas.gov/ The administration of franchise taxes was
Current business entity law and annotations for Connecticut and Rhode Island
Legal and business professionals need to stay on top of new case law and legislative changes in their jurisdictions to advise clients and complete transactions. The 2021 Edition of Connecticut & Rhode Island Laws Governing Business Entities Annotated provides a
In re Mindbody, Inc. Stockholders Litigation: Delaware Court of Chancery Rules “Paradigmatic Revlon Claim” Not Cleansed by Corwin Doctrine
In an all-new Special Commentary to the 2021 Spring edition of CSC’s Delaware Laws Governing Business Annotated, attorneys Christopher Kelly and Daniel Rusk of Potter Anderson and Corroon LLP explore the far-reaching ramifications of the Delaware Court of Chancery’s Chancery’s
Legislative Developments 3-5-2021
Article 9 and Lien-Related Legislation Arizona: HB 2617, which would amend the lien law, passed the House on 3/1/2021 and is pending in the Senate Finance Committee. The bill provides that a civil judgment lien retroactively extends to the judgment