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Indiana – SB 487, Effective July 1, Makes Various Changes to Business Entity Laws

SB 487 (Public Law 119) signed by the governor May 4 and effective July 1 makes various changes to business entity laws including: repeal of name registration by a foreign entity which may still reserve a name; repeal of a requirement to submit an exact or conformed copy of a business entity document for filing; change in the annual report requirement to a biennial report effective July 1, 2016; changes to provisions regarding notice to annual shareholder meetings which may be held by remote communication; and enactment of a new provision IC 23-1-40-9  regarding the merger of a parent corporation with a wholly owned subsidiary corporation.