Rhode Island – Legislation Amends Business Corporation Act and Nonprofit Corporation Law

House Bill 5051 (Public Law 2021-386) and Senate Bill 24 (Public Law 2021-385) signed by the governor and effective July 13 amend the Business Corporation Act to increase from 10 to 20 years the period for the Secretary of State to withdraw a certificate of revocation. The bill text can be accessed at http://webserver.rilin.state.ri.us/BillText/BillText21/HouseText21/H5051A.pdf and http://webserver.rilin.state.ri.us/BillText/BillText21/SenateText21/S0024A.pdf

House Bill 6064 (Public Law 2021-335) signed by the governor and effective July 9 amends the nonprofit corporation law regarding merger and consolidation of domestic and foreign corporations and to permit conversions of other entities to domestic corporations and from domestic corporations to other entities.  The bill text can be accessed at http://webserver.rilin.state.ri.us/BillText/BillText21/HouseText21/H6064A.pdf

Jurisdictional Updates 7-26-21