Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House passes wide-ranging update to business and nonprofit entity code
Summary
The Alabama House approved House Bill 200, an Alabama Law Institute-sponsored update to the state's business and nonprofit entity code that codifies several doctrines, modifies LLC transfer rules at death and makes technical and procedural changes across chapters.
The Alabama House of Representatives on the floor approved House Bill 200, an Alabama Law Institute measure updating the state's business and nonprofit entity code.
Representative Almond, the bill's sponsor, told colleagues the measure was a periodic, technical update produced by the Alabama Law Institute. "This is, a an ALI, Alabama Law Institute bill that updates our business code," Almond said, adding the bill contains "lots of technical changes and a few other additional changes." He described one substantive change in the limited liability company section: members could designate who receives a membership interest on death within their…
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
