The Department of State posted information related to changes to business entity statutes effective July 1 in the Association Transactions Act (also known as the Entity Transactions Act) enacted as Act 172 of 2014. The new law governs the following transactions regardless of the form of entities involved: merger of one entity with or into another; conversion of one entity to another entity type (for example, corporation to LLC); interest exchange to enable control without merger; division of entity into two or more resulting types of associations; and domestication to Pennsylvania of an entity organized in another state.
May 5, 2015