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Pennsylvania Associations Code Amendments to Change Corporate Filings Beginning on July 1, 2015.

Posted By Cliff Tuttle | April 22, 2015

No. 1,142

ASSOCIATIONS CODE (15 PA. C.S.) AND NAMES (54 PA.C.S.) OMNIBUS AMENDMENTSAct of October 22, 2014, PL 2640, No. 172

Image: harborcompliance.com

Image: harborcompliance.com

As July 1 approaches, you’ll be hearing a lot more about this statute.  Also known as the Entity Transactions Act or Law, it substantially modernizes and rearranges Title 15.

Under the new law, there are five fundamental kinds of transactions that may take place, regardless of the form of the business entity.

– Merger of one entity with or into another;

– Conversion of one type of entity to another type of entity;

– Interest exchange between two entities so that one of them is controlled by the other without a merger;

– Division of one existing entity into two or more resulting types of associations;

– Domestication into Pennsylvania of an entity originally organized in another state.

There will also be several new filing forms that will be available on the Corporations Bureau website before July 1.

There will undoubtedly be a variety of seminars coming out in the near future.  Keep tuned in.

CLT

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CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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