Jurisdictional Updates

It can be difficult to understand the nuance of what is required for sufficient debtor names on Uniform Commercial Code (UCC) financing statements.   Join CSC and LexisNexis® for an hour-long continuing legal education (CLE)-eligible webinar that will explain what

Arizona – Senate Bill 1230 (Chapter 309) signed by the governor May 3 and effective 91 days after adjournment (projected as May 28)  revises the Limited Liability Act relating to operating agreements, disassociation of a person from the LLC and

Colorado – Secretary of State Launches New Website Domain The Secretary of State’s office launched a new website domain – www.coloradosos.gov – which makes it more difficult for malicious actors and scammers to co-opt government websites and is part of

Illinois – Amendments to Limited Worker Cooperative Associations Act House Bill 3577 (Public Act 351) signed by the governor August 13 and effective July 1, 2021 provides for filings and annual reports by Limited Workers Cooperative Associations to be filed

Oklahoma –  Workers Compensation Commission Data Migration Project August 20 – September 7 The Workers Compensation Commission and Court posted an alert regarding temporary suspension of filings and case information access due to a data migration project from August 20

Illinois – Legislation Amends Business Corporations Act Senate Bill 116 (Public Act 282) signed by the governor and effective August 6 amends the Business Corporations Act regarding directors meetings by remote communications, reports of interim changes of domestic and foreign

Turkey – Disclosure of Ultimate Beneficial Owners General Communique No. 529 on Tax Procedural Law by Turkey’s Ministry of Treasury and Finance in force July 13 requires corporations to disclose ultimate beneficial owners to the Turkish Revenue Administration via electronic

Article 9 and Lien-Related Legislation No developments to report. Other Uniform Laws Legislation Rhode Island: The governor signed both HB 5511 and SB 451 on 7/13/2021 to correct some drafting oversights from the state’s adoption of UCC Article 7. The

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

Delaware – Legislation Effective August 1, 2021 Senate Bill 113 (Chapter 60) signed by the governor June 30 and effective August 1 amends the General Corporation Law to clarify that shares of a corporation’s capital stock held by any other