House Bill 4431 signed by the governor and effective September 30 enacts the Business License Tax Standardization Act.
Federal – Procedural Notice Posted for the Paycheck Protection Program
The Small Business Administration (SBA) on October 2 posted guidance to Paycheck Protection Program (PPP) lenders with respect to their decisions to consent to transactions involving “changes of ownership” of PPP borrowers.
Alabama – Revenue Tax Licenses to be Renewed Annually Beginning November 1
The Department of Revenue posted an October 1 notice that taxpayers will be required beginning November 1 to renew the Alabama tax license annually on the My Alabama Taxes website https://myalabamataxes.alabama.gov/_/.
California – New Reporting Requirements for California Companies Effective after 2021 Fiscal Year End
Assembly Bill 979 signed by the governor and effective September 30 requires public companies incorporated or physically located in California to report to the Secretary of State within 150 days after the end of their 2021 fiscal year the number of
Arizona – Corporation Commission Posts Consumer Alert about Changes to LLC Act
The Arizona Corporation Commission posted a consumer alerts notice that two changes under the 2019 LLC Act to be effective September 1, 2020 will not be implemented until November 1. All LLCs formed in Arizona will receive a perpetual duration,
Maryland – Legislative Bills Effective October 1
House Bill 668 (Chapter 292) and Senate Bill 469 (Chapter 293) became law without signature of the governor May 8 and effective October 1 relates to delayed effective dates, inspection of records by stockholders, and indemnification of directors of stock
UCC 101 for Law Firms: Filing, Searching, and Perfection of Your Client’s Security Interests
Uniform Commercial Code (UCC) filings are complicated and contain a plethora of nuances that can cause frustration for even the most experienced legal professionals. Subtle errors when filing can lead to unperfected security interests, posing tremendous risk to the clients
Missouri – Legislation Addresses Remote Online Notarization
House Bill 1655 signed by the governor July 6 and effective August 28 modifies provisions relating to the certification of documents, including processes for the Recorder of Deeds and procedures for notaries include remote online notarization.
Nebraska – Legislation Amends Business Corporation Act
Legislative Bill 808 signed by the governor and effective August 15 amends the Business Corporation Act to include provisions of the ABA model act with a process for the ratification of defective corporate acts.
Delaware – Bill Amends Statutory Trust Act
Senate Bill 244 (Chapter 264) signed by the governor July 23 and effective August 1 amends the Statutory Trust Act to clarify the ability to enter into contracts between series of a trust, vesting title to trust assets in a