Legislative Changes and Jurisdictional Updates, Effective July 1, Alabama:

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1 Legislative Changes and Jurisdictional Updates, Effective July 1, 2013 Alabama: House Bill 112 (Act ) signed by the governor April 18 and effective July 1 amends existing unclaimed property law. The bill text can be accessed from Colorado: Senate Bill 1006 (Chapter 393) signed by the governor June 5 and effective July 1 extended the sunset date until September 1, 2018 for the licensing of mortgage loan originators and the registration of mortgage companies in the Nationwide Mortgage Loan Registry and System (NMLS). The bill text can be accessed at open&file=156_enr.pdf Florida: Senate Bill 464 (Chapter ) signed by the governor April 29 and effective July 1 allows apparent owners to electronically submit claims for unclaimed property. The bill text can be accessed at Idaho: House Bill 8 (Chapter 54) signed by the governor March 12 and effective July 1 amends the Idaho Credit Code to clarify that a license is required to advertise or solicit to make consumer loans in Idaho and to promote efficient licensing processes and apply prohibited practices to persons who engage in payday or title lending in Idaho without a license. The bill text can be accessed at HB 210 (Chapter 64) signed by the governor March 13 and effective July 1 amends residential mortgage licensing processes to allow the director to reinstate licenses for 60 days following expiration for failure to renew. The bill text can be accessed at Kentucky: The Secretary of State posted a reminder to business entities to file annual reports online by July 1 to avoid bad standing and administrative dissolution or revocation. More information is available at

2 Indiana: HB 1394 (Public Law No ) signed by the governor April 8 and effective July 1 amends the business entity statutes to, among other things, permit limited partnerships to electronically file, transmit and sign certificates to be filed with the Secretary of State and permit LLCs to establish officers in the LLC operating agreement, conditions for dissolution and who has the right to vote, how to distribute assets upon death of a member if not addressed in operating agreement, and in the event of a merger, to file with the Secretary of State amendments to the formation document set forth in the plan of merger. The bill text can be accessed at Maryland: House Bill 372 (Chapter 453) cross filed with Senate Bill 202 (Chapter 452) signed May 16 and effective July 1 exempt from the recordation tax and state transfer tax the transfer of real property between a parent business entity and its wholly owned subsidiary or between subsidiaries wholly owned by the same parent business entity if the instrument of writing is for no consideration; nominal consideration; or consideration that comprises only the issuance, cancellation, or surrender of partnership interests, membership interests, or the ownership interest stock of a subsidiary business entity. The bill text can be accessed at and Mississippi: Senate Bill 2696 signed by the governor April 18 and effective July 1 amends existing mortgage licensing law. The bill text can be accessed at /SB2696SG.htm SB 2684 signed by the governor March 20 and effective July 1 among other things repeals existing provisions for changing the form of a cooperative association /SB2684SG.htm Montana: SB 319 (Chapter 196) signed by the governor April 17 and effective July 1 provides for the use of authorized agents in the processing of motor vehicle titles, registration and licensing. The bill text can be accessed at HB 465 (Chapter 207) signed by the governor April 15 and effective July 1 increases certain county recorder fees. The bill text can be accessed at New Jersey: Assembly Bill (AB) 3049/Senate Bill (SB) 2328 (Chapter40) signed by the governor April 1 and effective July 1 amends the Shareholders Protection Act to allow certain business combinations between resident domestic corporations and interested shareholders. The bill text can be accessed at

3 AB 3050/SB 2327 (Chapter 41) signed by the governor April 1 and effective July 1 allows corporate shareholder meeting participation by remote communication and clarifies remedies for dissenting shareholders. The bill text can be accessed at AB 3123/SB 2326 (Chapter 42) signed by the governor April 1 and effective July 1 amends existing provisions concerning derivative proceedings and shareholder class actions. The bill text can be accessed at New Mexico: House Bill 45 (Chapter No. 74) signed by the governor March 29 and effective July 1 transfers all powers relating to state supervision of insurance, rates and licenses, to the office of the superintendent of insurance, which was approved by voters in 2012 and created by Article 11, Section 20 of the state constitution. The bill text can be accessed at SB 328 (Chapter 73) signed by the governor March 29 and effective July 1 amended the Motor Carrier Act. The bill text can be accessed at SB 497 (Chapter 122) signed by the governor April 2 and effective July 1 enacted the Homeowner Association Act. The bill text can be accessed at South Dakota: House Bill 1106 signed by the governor February 26 and effective July 1 amends the limited liability company act with respect to operating agreements; merger, conversion, and domestication provisions; and derivative actions. The bill text can be accessed at HB 1163 signed by the governor March 14 and effective July 1 permits electronic filing of certificates of limited partnership and certificates of amendment or cancellation. The bill text can be accessed at Tennessee: Senate Bill 476 (Chapter 123) signed by the governor April 18 and effective July 1 decreases from three to one the number of specimens required with an application for a trademark. The bill text can be accessed at SB 615 (Chapter 119) signed by the governor April 12 and effective July 1 authorizes expanded provisions in bank charters beyond requirements of the Business Corporation Act and gives bank shareholders certain notification rights. The bill text can be accessed at

4 SB 1052 (Chapter No. 413) signed May 16 and effective July 1 increases from a Class A misdemeanor to a Class E felony the offenses of drawing and filing a deed without actual ownership of property and filing a lien on property without any legal interest. The bill text can be accessed at Vermont: House Bill 240 (Act No. 72) signed June 5 and effective July 1 increases Executive Branch fees including Secretary of State filing fees. Business entity formation and qualification fees will increase to $ Corporation annual report fees will increase to $45.00 (domestic) and $ (foreign), and LLC annual report fees will increase to $35.00 (domestic) and $ (foreign). The bill text can be accessed at Virginia: Senate Bill 779 (Chapter 722) approved by the governor April 3 and effective July 1 amends the Limited Liability Company Act to provide that an assignment of an interest in a limited liability company does not entitle the assignee to participate in the management and affairs of the limited liability company or to become or to exercise any rights of a member, except as provided in subsection A of of the LLC Act. The measure overturns the Virginia Supreme Court's finding in Ott v. Monroe that current law precludes such rights being transferred to an assignee. The bill text can be accessed at bin/legp604.exe?131+ful+sb779er2 Senate Bill 1337 (Chapter No. 103) is identical to HB 1546 regarding venue for civil actions. The bill text can be accessed at bin/legp604.exe?131+ful+chap0103 House Bill 1546 (Chapter No. 113) signed by the governor March 6 and effective July 1 amends existing laws relating to service of process on nonresidents and foreign corporations to provide that (i) foreign corporations may be personally served with process outside of the Commonwealth in addition to substituted service on such corporation within the Commonwealth; (ii) service of process on the Commissioner of the Department of Motor Vehicles for nonresident motor vehicle owners or operators or the Secretary of the Commonwealth for nonresident aircraft owners or operators is effective on the date service is made on the Commissioner or the Secretary; and (iii) the Secretary of the Commonwealth or the statutory agent of a foreign corporation must provide a receipt noting the date service of process was made if the Secretary or statutory agent was served by hand delivery or any other method that does not provide a return of service. The bill text can be accessed at bin/legp604.exe?131+ful+chap0113 HB 1618 (Chapter No. 71) signed by the governor March 5 and effective July 1 amends existing law relating to venue for civil actions to change Category B venue from where the president or other chief officer of a defendant that is a corporation resides to where a corporation has its principal office or principal place of business and where a defendant regularly conducts substantial business activity or where such activity was conducted before the defendant's withdrawal from the Commonwealth provided there exists any practical nexus to the forum. The bill text can be accessed at bin/legp604.exe?131+ful+chap0071

5 HB 1715 (Chapter 77) signed by the governor March 5 and effective July 1 amends existing law allowing circuit court clerks to provide remote access to certain records. The bill text can be accessed at bin/legp604.exe?131+ful+chap0077 HB 1716 (Chapter 422) signed by the governor March 16 and effective July 1 allows circuit court clerks to establish and maintain their own case management systems, financial management systems, or other independent technology. The bill text can be accessed at House Bill 1748 (Chapter No. 17) signed by the governor February 20 and effective July 1 updates the Limited Liability Company Act to clarify standards for execution of documents by foreign LLCs; presume perpetual existence of a Virginia LLC unless a specific period of duration is set forth in articles; require inclusion of an ID number in certain documents; and align annual registration fee assessment and domestication provisions with provisions for other business entity types. The bill text can be accessed at bin/legp604.exe?131+ful+hb1748er HB 1760 (Chapter 206) signed by the governor March 12 and effective July 1, identical to SB 1137 (Chapter 155), requires the Stock Corporation Commission by June 30, 2018 to integrate with the onestop business permitting and efile center. The bill text can be accessed at HB 1792 (Chapter No. 18) signed by the governor February 20 and effective July 1 updates the Uniform Partnership Act and Revised Uniform Limited Partnership Act to (i) clarify standards for execution of an amendment to a certificate of limited partnership that names a new general partner when all previous general partners have withdrawn; (ii) require inclusion of an ID number in certain documents; (iii) align annual registration fee assessment provisions with other business entity types; (iv) provide that a statement of merger is to be made a part of the records of a general partnership with status as a registered limited liability partnership; and (v) provide that an amendment to change the name or principal office address of an LP in its certificate of LP also operates to automatically change these items in an LP's application for registration as a RLLP. The bill text can be accessed at bin/legp604.exe?131+ful+hb1792er HB 2113 (Chapter No. 25) signed by the governor February 20 and effective July 1 modifies provisions of the Business Trust Act to clarify standards for execution of documents by a foreign business trust; authorize a business trust to petition the State Corporation Commission for an order to eliminate the effects of clerical errors, require the inclusion of an ID number in certain documents, align annual registration fee assessment provisions with those applicable to other business entities, and provide that business trust names are subject to provisions regarding noncompliance. The bill text can be accessed at bin/legp604.exe?131+ful+hb2113er HB 2222 (Chapter 353) signed by the governor March 14 and effective July 1 amends existing provisions regarding appraisal management companies. The bill text can be accessed at bin/legp604.exe?131+ful+chap0353

6 Wyoming: House Bill 150 (Chapter 163) signed by the governor March 13 and effective July 1 amends the bond requirements for obtaining a certificate of motor vehicle title. The bill text can be accessed at Senate Bill 127 (Chapter 122) signed by the governor March 13 and effective July 1 amends notice requirements for real property liens. The bill text can be accessed at