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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Legislation Effective September 1st

August 21, 2019 Corporate, Legislation

Texas
House Bill 1159
Relates to acknowledgment of written instruments on behalf of limited liability companies.

Senate Bill 1258
Provides for prosecution under the Penal Code of LLCs and other entities governed by the Business Organizations Code.

House Bill 3609
Provides for business entities to file assumed name certificates only in the office of the Secretary of State and repeals the requirement to also file in county clerk offices.

Arizona

Senate Bill 1353
New law governing LLCs formed on or after September 1, 2019 and existing LLCs that opt in under the new law. The former LLC act will continue to govern LLCs formed before September 1, 2019 until September 1, 2020, when the new act will govern all LLCs in Arizona.

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