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Statutory Updates
Business Entity Filings/UCC Updates

Hawaii
House Bill 2313 effective January 1, 2007 and Senate Bill 744 amended filing requirements for conversion and reinstatement after administrative dissolution and clarified certain ambiguities in the business entity statutes.  Full texts of the bills can be accessed from http://www.capitol.hawaii.gov/session2006/bills.

Oklahoma
Senate Bill 1556 effective November 1, 2006 changes the due date for LLC and LP annual certificates from July 1 to the anniversary date of filing in Oklahoma.  The text of enrolled bill can be accessed from http://www.lsb.state.ok.us/

International

British Virgin Islands
Applications for re-registration under the BVI Business Corporations Act 2004 must be filed on or before November 30, 2006.  Effective January 1, 2007 all existing BVI international business companies (IBCs) formed prior to January 1, 2006 will be automatically converted to BVI business companies.  IBCs that apply for re-registration
will obtain a certificate of re-registration and new company registration number.  IBCs with bearer shares in issue and/or the power to issue bearer shares in their Memoranda and Articles are reminded of the requirement for an authorized custodian to hold bearer shares after December 31, 2010 and the increased government license fees for companies with bearer shares in issue and/or the power in the Memoranda and Articles  The Act including 2005 amendments can be accessed from the website of the BVI Financial Services Commission Registry of Corporate Affairs 
http://www.bvifsc.vg/fsc_registryaffairs.php?fn=relatedlegislation

Puerto Rico
As a result of amendments to the Puerto Rico Internal Revenue Code of 1994 (through Act 117 of July 4, 2006), a business registry was established by the Department of the Treasury for all persons doing business in Puerto Rico.  Form AS 2914.1 (Application for Merchants’ Registration Certificate and Exemption Certificate) must be filed with the Treasury Department to comply with this requirement.  An English version of the form can be accessed at http://www.hacienda.gobierno.pr.

Quebec
The filing period for annual declarations is extended by one month from November 15 to December 15 for registrants that can not exercise the joint filing option.  More information and an English version of the form is available from the Registrar’s website, but the French version of the form must be filed. http://www.req.gouv.qc.ca/modifier/mettre_a_jour/declaration_annuelle_eng.htm


Motor Vehicle Updates

North Carolina
If you are transferring a non-leased vehicle into North Carolina and the owner is not changing, you can get credit for taxes paid to another state if they were paid in the last 90 days. The following will be accepted as proof the taxes were paid: tax receipt, Bill of Sale or notarized affidavit. If it has been more than 90 days since the taxes were paid a flat tax of $150.00 will be charged.

 

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CSCFlash™ is not intended to provide legal or professional advice. If such advice is required, you should seek the services of an attorney or other professional. CSC cannot guarantee the completeness or accuracy of the information in CSCFlash.