Legislation Effective October 1, 2023
Senate Bill 72 (Chapter 381) and Senate Bill 254 (Chapter 380) signed by the governor May 3 and effective October 1 relate to charitable registration and authorizes certain supporting documents and affidavits in place of an audit or review. The bill text can be accessed here and here.
House Bill 209 (Chapter 560) signed by the governor May 8 and effective October 1 alters miscellaneous provisions of the Corporations and Associations Article including remote participation at stockholders meetings, conversion of a close corporation, directors of a nonstock corporation and requirements for dissolution of a real estate investment trust (REIT). The bill text can be accessed here.
House Bill 805 (Chapter 277) signed by the governor April 28 and effective October 1 amends existing laws relating to cooperative associations for the purpose of trade or of carrying out any branch of industry or the purchase and distribution of commodities for consumption or in the borrowing or lending of money among members for industrial purposes. The bill text can be accessed here.
Senate Bill 167 (Chapter 339) signed by the governor May 5 and effective October 1 relates to resignations of directors of nonprofit corporations. The bill text can be accessed here.
Senate Bill 142 (Chapter 2023-38) signed by the governor May 8 and effective 180 days following enactment modernizes business filing statutes to include entity conversion and domestication. The bill text can be accessed here.