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Parasec Alert

January 2016 - March 2016

California: Changes to Nonprofit Dissolutions

Effective January 1, 2016, California Assembly Bill 557 (AB 557) authorizes California public benefit, mutual benefit, and religious corporations to file a Short Form Certificate of Dissolution within 24 months of forming.

California: Changes to Worker Cooperatives

Effective January 1, 2016, California Assembly Bill 816 (AB 816) renames the “Consumer Cooperative Corporation Law” as the “Cooperative Corporation Law” and authorizes a cooperative corporation to designate itself as a worker cooperative in its articles of incorporation.

California: Clarifications to the Revised Uniform Limited Liability Act

California Assembly Bill 506 (AB 506) made changes to the California Revised Uniform Limited Liability Company Act and the California Revised Uniform Limited Partnership Act of 2008, effective January 1, 2016.

Tennessee: Benefit Corporations

Effective January 1, 2016, Tennessee became the thirty-first state to allow for the formation of benefit corporations (also known as B corporations or B Corps).

Various States: Plan Ahead for Filing Delays Due to Inclement Weather

Please note that some documents may incur unforeseen processing and shipping delays during this time of year due to the extreme weather conditions experienced in many parts of the country.



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