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Florida Senate Bill 1104 was signed into law by Florida Governor Rick Scott on April 1, 2016. The bill allows a financial institution authorized by state or federal law to designate with the Department of State a place or registered agent as the sole location to receive service of process. Service of Process may be made on any officer, director or business agent of the financial institution at its principal place of business, or at any other branch, office or place of business in the state, if a financial institution has no registered agent. The bill became effective January 1, 2017.
California Assembly Bill 2296 was signed by California Governor Jerry Brown on August 19, 2016. CA AB2296 enacted clarifies that a digital signature may be used to satisfy the requirements of an electronic signature under the Uniform Electronic Transactions Act. The bill becomes effective January 1, 2017.
New York Assembly Bill 8116 was signed by New York Governor Andrew Cuomo on November 28, 2016. NY A8116 allows certain not-for-profit corporations to convert to a for-profit corporation. The bill became effective November 28, 2016, and is repealed 180 days after its enactment, May 28, 2017.
In order to convert, the not-for-profit corporation is required to obtain consent from the NYS Attorney General. To obtain consent, the incorporator or incorporators must submit to the attorney general sworn statements under the penalties of perjury certifying the following:
(1) that legal advice had not been sought or received as to the appropriate course of action that would have resulted in correct registration allowing for the intended for-profit operation of the entity.
(2) the entity at no time received the benefits and/or privileges of being recognized as a not-for-profit corporation, such as being exempt from incurring any local, state, or federal taxes.
(3) the entity throughout its operation as a not-for-profit corporation did not at any time solicit and/or receive any private and/or public grants or charitable donations.
(4) the office of the attorney general has provided written indication that either it does not object to, or it approves of, the proposed conversion.
Please reference the below hyperlink to view the entire bill:
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