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Jurisdictional Updates 10-23-2023

United States – FinCEN Renews and Expands Real Estate Geographic Targeting Orders

The Financial Crimes Enforcement Network (FinCEN) of the United States Department of Treasury announced Friday the renewal and expansion of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind companies used in non-financed purchases of residential real estate. The terms of the GTOs are effective beginning October 22, 2023 and ending on April 18, 2024. More information is available here.

New Hampshire – Department of State Changes Effective November 1

Senate Bill 197 (Chapter 170) signed by the governor July 28 and effective November 1 makes statutory changes requested by the Department of State to allow domestic nonprofit organizations, nonfiling entities and nonqualified foreign entities to appoint an agent for service of process; require foreign corporations and LLCs to affirm good standing in their domestic state in their application for authority; amend the benefit corporation statute to permit domestic and foreign benefit corporations to use PBC in their name in lieu of “Corp.”, “Inc.” or “Ltd”; permit limited partnerships to electronically file changes to registered agent and office address; and change the certified copy fee for corporation, LLC and foundation documents to $1.00 per document and $5.00 for the certificate. The bill text can be accessed here.