Kansas 2023-2024 Regular Session

Kansas House Bill HB2455

Introduced
3/9/23  
Refer
3/9/23  
Report Pass
3/17/23  

Caption

Updating the Kansas general corporation code, the business entity transactions act, the business entity standard treatment act, the Kansas revised uniform limited partnership act and the Kansas uniform partnership act.

Impact

One of the key impacts of HB 2455 is its potential to streamline the process for corporations undergoing mergers or consolidations, allowing for greater flexibility in their agreements and the documentation of these transactions. This could lead to increased business activity and partnerships, ultimately benefiting economic growth in the state. Additionally, the bill amends multiple sections of the Kansas statutes, ensuring that they are up to date with current business practices and technological advancements, particularly in terms of electronic communications.

Summary

House Bill 2455 is a legislative proposal aimed at updating and modernizing various aspects of business entity regulations within the state of Kansas. This bill encompasses provisions related to the Kansas general corporation code and other related acts, emphasizing the facilitation of electronic transmissions and signatures in corporate operations. It seeks to revise existing procedures regarding mergers, consolidations, and dissolutions, making it easier for businesses to navigate regulatory requirements while ensuring compliance with modern business practices.

Contention

However, some points of contention have arisen concerning specific provisions in the bill. Critics have voiced concerns that the changes regarding electronic signatures and the alterations to bylaws in emergency situations could lead to potential misuse. There are apprehensions about the adequacy of safeguards to protect minority stakeholders during mergers and acquisitions, as the alterations to procedures could favor larger corporations at the expense of smaller entities. It will be essential for the legislative process to address these concerns to ensure a balanced approach that protects all business interests.

Companion Bills

No companion bills found.

Previously Filed As

KS SB244

House Substitute for SB 244 by Committee on Judiciary - Updating the Kansas general corporation code, the business entity transactions act, the business entity standard treatment act, the Kansas revised uniform limited partnership act and the Kansas uniform partnership act.

KS HB2371

Amending the Kansas revised limited liability company act, the business entity transactions act and the business entity standard treatment act.

KS SB228

Business entities; modifying requirements for corporations, limited liability companies and limited partnerships. Effective date.

KS HB2117

Modifying certain business filing and fee requirements for business trusts, foreign corporations and limited partnerships; authorizing professional corporations or limited liability companies formed or organized to render a professional service to participate in transactions under the business entity transactions act; and making certain information provided by registered agents a public record.

KS SB00967

An Act Concerning Revisions To The Connecticut Business Corporation Act, The Uniform Limited Partnership Act And The Connecticut Limited Liability Company Act.

KS H7603

Uniform Limited Partnership Act

KS S2812

Uniform Limited Partnership Act

KS S2129

Uniform Limited Partnership Act

KS HB2660

Modifying requirements related to certain business entity filings with the secretary of state, authorizing a change of registered office address by a current occupant under the business entity standard treatment act and changing the information required in an amendment to the articles of incorporation for a cooperative.

KS HB2409

Enacting the Kansas uniform parentage act (2017).

Similar Bills

KS SB244

House Substitute for SB 244 by Committee on Judiciary - Updating the Kansas general corporation code, the business entity transactions act, the business entity standard treatment act, the Kansas revised uniform limited partnership act and the Kansas uniform partnership act.

NV AB239

Revises provisions relating to business entities. (BDR 7-669)

DE SB114

An Act To Amend Title 8 Of The Delaware Code Relating To The General Corporation Law.

AL SB245

Relating to the Alabama Business and Nonprofit Entity Code; to add Chapter 3A to Title 10A, Code of Alabama 1975, by revising the Alabama Nonprofit Corporation Law to reflect the national standards set by the Model Nonprofit Corporation Act of 2021 and the Delaware General Corporation Law; and to make conforming changes throughout the Alabama Business and Nonprofit Entity Code in order to effectuate the changes to the Alabama Nonprofit Corporation Law and conform with the other entities governed by the Alabama Business and Nonprofit Entity Code by amending Sections 10A-1-1.03, 10A-1-1.08, 10A-1-3.32, 10A-1-8.01, 10A-1-8.02, 10A-1-9.01, 10A-2A-1.40, 10A-2A-1.43, 10A-2A-1.51, 10A-2A-2.02, 10A-2A-2.06, 10A-2A-7.04, 10A-2A-7.20, 10A-2A-7.32, 10A-2A-8.10, 10A-2A-8.21, 10A-2A-8.22, 10A-2A-8.24, 10A-2A-10.06, 10A-2A-10.07, 10A-2A-10.08, 10A-2A-11.02, 10A-2A-11.06, 10A-2A-12.02, and 10A-2A-14.13, Code of Alabama 1975; adding Sections 10A-2A-10.00 and 10A-2A-10.10 to the Code of Alabama 1975; and amending Sections 10A-5A-2.03, 10A-5A-10.07, 10A-8A-9.08, 10A-9A-2.02, and 10A-9A-10.08, Code of Alabama 1975.

AL HB267

Relating to the Alabama Business and Nonprofit Entity Code; to add Chapter 3A to Title 10A, Code of Alabama 1975, by revising the Alabama Nonprofit Corporation Law to reflect the national standards set by the Model Nonprofit Corporation Act of 2021 and the Delaware General Corporation Law; and to make conforming changes throughout the Alabama Business and Nonprofit Entity Code in order to effectuate the changes to the Alabama Nonprofit Corporation Law and conform with the other entities governed by the Alabama Business and Nonprofit Entity Code by amending Sections 10A-1-1.03, 10A-1-1.08, 10A-1-3.32, 10A-1-8.01, 10A-1-8.02, 10A-1-9.01, 10A-2A-1.40, 10A-2A-1.43, 10A-2A-1.51, 10A-2A-2.02, 10A-2A-2.06, 10A-2A-7.04, 10A-2A-7.20, 10A-2A-7.32, 10A-2A-8.10, 10A-2A-8.21, 10A-2A-8.22, 10A-2A-8.24, 10A-2A-10.06, 10A-2A-10.07, 10A-2A-10.08, 10A-2A-11.02, 10A-2A-11.06, 10A-2A-12.02, and 10A-2A-14.13, Code of Alabama 1975; adding Sections 10A-2A-10.00 and 10A-2A-10.10 to the Code of Alabama 1975; and amending Sections 10A-5A-2.03, 10A-5A-10.07, 10A-8A-9.08, 10A-9A-2.02, and 10A-9A-10.08, Code of Alabama 1975.

AL HB228

Alabama Business and Nonprofit Entities Code; amended to delete references to Alabama Nonprofit Corporation Law, clarify and streamline certain provisions in accordance with changes in Delaware law and the Model Business Corporation Act

AL SB112

Alabama Business and Nonprofit Entities Code; amended to delete references to Alabama Nonprofit Corporation Law, clarify and streamline certain provisions in accordance with changes in Delaware law and the Model Business Corporation Act

DE SB313

An Act To Amend Title 8 Of The Delaware Code Relating To The General Corporation Law.