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| www.cscglobal.com | Contact Us | Newsletter Archive | ||||||
| Statutory Updates & Filing Office News
California AB 285 (Chapter 96) signed by governor August 5 and effective January 1, 2010 amends Section 20 of the Corporations Code to eliminate an existing requirement to satisfy the federal Electronic Signatures in Global and National Commerce Act and requires that the consent to electronic transmissions to an individual shareholder or member of the corporation who is a natural person be preceded by or include a written statement to the recipient containing specified information. AB 991 (Chapter 131) signed by governor August 5 and effective January 1, 2010 amends the Corporations Code to clarify references to corporations listed on a national securities exchange. AB 1549 (Chapter 153) signed by governor August 5 and effective January 1, 2010 amends the Code of Civil Procedure relating to judgment liens. Eliminated was a condition that a judgment lien on personal property can only be created if a security interest in the property could be perfected by filing a financing statement with the Secretary of State at the time when the lien was created. The new requirements permit creation of a judgment lien against certain tangible personal property that is located within California, including equipment, farm products, inventory and negotiable documents of title. If the personal property consists of accounts receivable or tangible chattel paper, the judgment debtor must be located in California. Whether the debtor is located in California is determined by Section 9307 of the Commercial Code, except that a registered business organization organized under a law of another state is located in California if it has a place of business or its chief executive office in California. Illinois House Bill 153 (Public Act 110) signed by governor July 31 and effective immediately amends the Code of Civil Procedure to provide that any deed executed pursuant to the Mortgage Foreclosure Article or judgment vesting title by a consent foreclosure shall state the grantee's or mortgagee's name (and the name of a contact person), street and mailing addresses, and telephone number, and upon the receipt of a judgment vesting title by a consent foreclosure or deed executed pursuant to the Mortgage Foreclosure Article, the grantee or mortgagee shall post on the property, while the property is vacant, a notice that states the name (and the name of a contact person), street and mailing addresses, and telephone number of the grantee or mortgagee. Senate Bill 1970 (Public Act 488) signed by governor August 14 and effective January 1, 2010 amended the Solicitation for Charity Act to require charitable organizations with calendar year or fiscal year contributions in excess of $300,000 to file a financial statement with its annual report to the Office of the Attorney General. Michigan New York Assembly Bill 8867 (Chapter 201) signed by governor July 11 and effective October 1, among provisions intended to conform New York City tax laws to certain state tax laws, in Sections 73 and 75 amended the Business Corporation Law and Not-for-Profit Corporation Law to require that any corporation that has done business in the City of New York and incurred liability for any tax under certain chapters of the Administrative Code of the City of New York must obtain and attach the consent of the Commissioner of Finance of the City of New York to the certificate of dissolution. NY Department of State Corporations Division will modify dissolution forms to add a check the box statement whether or not consent is required and attached. Full bill text can be accessed at North Carolina Oregon House Bill 3484 signed by governor July 28 licenses exchange facilitators. Pennsylvania International ![]() Motor Vehicle Updates Connecticut Florida Massachusetts |
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Corporation Service Company · 2711 Centerville Road · Wilmington, DE 19808
www.cscglobal.com · 800.927.9800 · 302.636.5400
CSC is a service company and does not offer legal or financial advice.