Did You Know?

New Bills Enacted in Several States

A variety of bills have been enacted in the past several months. Effective April 18, 2018, Tennessee authorized the Secretary of State to accept electronic transmission of LLC documents. A few weeks later, on May 8, 2018, Utah enacted the Benefit LLC Act, which permits the formation of LLCs for general public benefit, and changed the term “certificate of good standing” to “certificate of existence.” West Virginia began recognizing foreign series LLCs on June 8, 2018. Effective July 1, 2018, filings submitted by entities registered in Illinois are not to be subject to additional expedited fees solely because they are submitted electronically.

Lastly, Arizona adopted the Uniform LLC Act, which applies to LLCs and registered foreign LLCs formed, converted, or domesticated after September 1, 2019. However, LLCs formed, converted, or domesticated prior to September 1, 2019, may elect to be subjected to the requirements. The requirements of the Uniform LLC Act will apply to all LLCs and registered foreign LLCs after September 1, 2020.