Jurisdictional Updates

Article 9 and Lien-Related Legislation Indiana: House Bill 1092 was amended on the House floor on 1/18/2022 to add a provision that deletes a non-uniform portion of the state’s UCC § 9-502.  The non-uniform provision requires the secured party to

Article 9 and Lien-Related Legislation Florida:  Senate Bill 1758 was pre-filed on 1/7/2022 to make changes to the state’s judgment lien law.  The bill would (i) specify that payment intangibles, accounts and proceeds thereof are subject to judgment liens; and

The Secretary of State Corporations Division posted a reminder for business entities to file 2022 annual registrations prior to April 1 to avoid a $25.00 late filing penalty and possible administrative dissolution or revocation. Georgia permits entities to renew for 3

Article 9 and Lien-Related Legislation California: Assembly Bill 870 (2021) was amended on 1/3/2022 to provide for additional notice and hearing requirements before the department of toxic substances control may record a lien and allows an additional lien to be

California’s state legislature enacted or amended more than 40 sections in the Corporations Code and related codes, including new powers for corporate entities in an emergency, amended laws permitting remote shareholder and member meetings, and an exemption from the California

Luxembourg – National Identification Number Requirement The Luxembourg Business Register issued a public notice that effective from the end of March 2022 any private individual registered with the Luxembourg Trade and Companies Register (RCSL) as a partner, director, manager, authorized

Article 9 and Lien-Related Legislation Florida: Senate Bill 1312 (2022) was pre-filed on 12/20/2021 to add a new section to Part 6 of UCC Article 9 that would prohibit unlawful activities. The bill would make it unlawful for a person

Federal – Beneficial Ownership Disclosure Reporting Delayed The implementation of the Beneficial Ownership disclosure reporting under the Corporate Transparency Act has been delayed by the Financial Crimes Enforcement Network (FinCEN) which on December 7 issued a 188-page Notice of Proposed

Hungary – Steps to Remain in Good Compliance and Avoid Insolvency or Bankruptcy Companies with a permanent business in the Republic of Hungary should evaluate the following criteria to determine if capital measures are required to remain in good compliance

Washington – Important Changes to Not for Profit Filings Effective January 1, 2022 The Secretary of State is implementing changes to its online filing systems for non-profit corporations to comply with Senate Bill 5034 (Chapter 176) signed in May 2021