Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Kansas bill updates LLC statutes, adds series-LLC language and a fee flexibility request for secretary of state
Summary
House Bill 2371 would revise Kansas limited liability company statutes to align with recent developments in Delaware law, add or clarify series LLC provisions, modernize electronic document provisions, and give the secretary of state regulatory authority to set formation fees below the statutory ceiling of $150.
House Bill 23—1, debated at a Senate Judiciary Committee hearing, would amend multiple Kansas business entity statutes including the Kansas Revised Limited Liability Company Act, the Business Entity Transactions Act and the Business Entity Standard Treatment Act to modernize statutory language, add clarifications about series limited liability companies and update provisions on electronic transmissions, mergers, divisions, indemnification and registered agents.
Clay Barker, Deputy Secretary of State and General Counsel, testified for the Secretary of State's Office and said the office supports the general LLC modernization package but asked for a single specific change: authority to reduce the $150 statutory filing fee for LLC formation by regulation (that is, keep a $150 statutory ceiling but allow a lower fee by regulation). Barker said about 29,000 LLCs form in Kansas each…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
