Business Entity Legislation From The State Of Washington
July 25, 2017 State UpdateThe state of Washington (Laws of 2017) has enacted the following Business Entity legislation, effective July 23, 2017:
Senate Bill 5011 – Business Corporation Act Amendments
- Authorizes ratification of defective corporate acts, including over-issuances of stock, with a related required filing of an Articles of Validation if the defective act that is validated required a filing to be made
- Authorizes parent/subsidiary mergers with a subsidiary surviving (i.e. downstream short form mergers)
You can access the bill here http://lawfilesext.leg.wa.gov/biennium/2017-18/Pdf/Bills/Senate%20Passed%20Legislature/5011.PL.pdf
Senate Bill 5040
- Business Organizations Code Amendments
o revises contents of foreign entity status certificates issued by the Secretary of State
o revises contents of business corporation Annual Reports
o clarifies that the tax clearance requirement upon foreign withdrawal applies to only foreign corporations
- Partnership law Amendment
o requires LLPs to file an Annual Report instead of an Annual Notice
You can access the bill here http://lawfilesext.leg.wa.gov/biennium/2017-18/Pdf/Bills/Senate%20Passed%20Legislature/5040.PL.pdf
For more information regarding this Business Entity legislation in Washington, please contact:
Todd Gomes – 916.313.8917
Pat Fitzgibbon – 781.392.7089
