Oklahoma 2025 Regular Session

Oklahoma House Bill HB2565 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	ENGR. H. B. NO. 2565 Page 1 1
	3	+	HB2565 HFLR Page 1
	4	+	BOLD FACE denotes Committee Amendments. 1
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28		-	ENGROSSED HOUSE
29		-	BILL NO. 2565 By: Osburn of the House
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
30	30
31		-	~~and~~
	31	+	STATE OF OKLAHOMA
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33		-	Daniels of the Senate
	33	+	1st Session of the 60th Legislature (2025)
	34	+
	35	+	COMMITTEE SUBSTITUTE
	36	+	FOR
	37	+	HOUSE BILL NO. 2565 By: Osburn
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	43	+	COMMITTEE SUBSTITUTE
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40		-	[ partnerships - limited liability partnerships -
41		-	state actors - classification of entities -
42		-	effective date ]
	45	+	An Act relating to partnerships; amending 54 O.S.
	46	+	2021, Section 1-1001, which relates to limited
	47	+	liability partnerships; prohibiting certain state
	48	+	actors from certain actions; clarifying
	49	+	classification of certain entities; and providing an
	50	+	effective date.
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47	55		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
48	56		SECTION 1. AMENDATORY 54 O.S. 2021, Section 1 -1001, is
49	57		amended to read as follows:
50	58		Section 1-1001. (a) A. A limited liability partnership is a
51	59		partnership under the laws of this state and may engage in any
52	60		business in this state in which a partnership may engage including,
53	61		but not limited to, the rendering of professional services as
54	62		defined in paragraph 6 of subsection A of Section 803 of Title 18 of
55	63		the Oklahoma Statutes o r the rendering of related professional
56	64		services as defined in paragraph 7 of subsection A of Section 803 of
57	65		Title 18 of the Oklahoma Statutes.
58		-	(b) B. A partnership may become a limited liability partnership
59		-	pursuant to this section.
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61		-	ENGR. H. B. NO. 2565 Page 2 1
	67	+	HB2565 HFLR Page 2
	68	+	BOLD FACE denotes Committee Amendments. 1
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	93	+	(b) B. A partnership may become a limited liability partnership
	94	+	pursuant to this section.
86	95		(c) C. The terms and conditions on which a partnership becomes
87	96		a limited liability partnership must be approved by the vote
88	97		necessary to amend the partnership agreement except, in the case of
89	98		a partnership agreement that expressly considers obligations to
90	99		contribute to the pa rtnership, by the vote necessary to amend those
91	100		provisions.
92	101		(d) D. After the approval required by subsection (c) C of this
93	102		section, a partnership may become a limited liability partnership by
94	103		filing a statement of qualification with the Secretary of State.
95	104		The statement must contain:
96	105		(1) the 1. The name of the partnership;
97	106		(2) the 2. The street address of the partnership's chief
98	107		executive office and, if different, the street address of an office
99	108		of the partnership in this state, if any;
100	109		(3) if 3. If the partnership does not have an office in this
101	110		state, the name and street address of the partnership's agent for
102	111		service of process;
103	112		(4) a 4. A statement that the partnership elects to be a
104	113		limited liability partnership; and
105	114		(5) a 5. A deferred effective date, if any.
106	115		(e) E. The agent of a limited l iability partnership for service
107	116		of process must be an individual resident of this state, a domestic
108		-	corporation, limited liability company, limited partnership, or
109		-	limited liability partnership; or a foreign corporation, limited
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111		-	ENGR. H. B. NO. 2565 Page 3 1
	118	+	HB2565 HFLR Page 3
	119	+	BOLD FACE denotes Committee Amendments. 1
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	144	+	corporation, limited liability company, limited partnership, or
	145	+	limited liability partnership; or a forei gn corporation, limited
136	146		liability company, limited partnership, or limited liability
137	147		partnership having a place of business and authorized to do business
138	148		in this state.
139	149		(f) F. The status of a partnership as a limited liability
140	150		partnership is effective on the later of the filing of the statement
141	151		or a date specified in the statement. The status remains effective,
142	152		regardless of changes in the partnership, until it is canceled
143	153		pursuant to subsection (d) of Section 1 -105 of this title. A
144	154		statement of dissolut ion filed under Section 1 -805 of this title
145	155		effects a cancellation upon completion of the partnership's winding
146		-	up. For purposes of this subsection (f) of this section only, the
	156	+	up. For purposes of this subsection (f) F of this section only, the
147	157		winding up is presumed to be complete on the first anniversary of
148	158		the filing of the statement of dissolution, which may be re butted by
149	159		the prior filing of a statement indicating that the partnership is
150	160		continuing.
151	161		(g) G. The status of a partnership as a limited liability
152	162		partnership and the liability of its partners is not affec ted by
153	163		errors or later changes in the information required to be contained
154	164		in the statement of qualification under subsection (c) C of this
155	165		section.
156		-	(h) H. The filing of a statement of qualification establishes
157		-	that a partnership has satisfied all conditions precedent to the
158		-	qualification of the partnersh ip as a limited liability partnership.
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160		-	ENGR. H. B. NO. 2565 Page 4 1
	167	+	HB2565 HFLR Page 4
	168	+	BOLD FACE denotes Committee Amendments. 1
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	193	+	(h) H. The filing of a statement of qualification establishes
	194	+	that a partnership has satisfied all conditions precedent to the
	195	+	qualification of the partners hip as a limited liability partnership.
185	196		(i) I. An amendment or cancellation of a statement of
186	197		qualification is effective when it is filed or on a deferred
187	198		effective date specified in the amendment or cance llation.
188	199		J. No state officer, agency, board, or c ommission shall
189	200		declare, interpret, hold, classify, or otherwise find a limited
190	201		liability partnership is a similar entity to a limited liability
191	202		company. A limited liability partnership is hereby recognized as a
192	203		form of partnership subject to the provisio ns governing partnerships
193	204		including, but not limited to, the Oklahoma Revised Uniform
194	205		Partnership Act, Section 1 -100 et seq. of this title, whereas a
195	206		limited liability company is a separate and distinct for m of entity
196	207		governed by the Oklahoma Limited Liabi lity Company Act, Section 2000
197	208		et seq. of Title 18 of the Oklahoma Statutes.
198	209		SECTION 2. This act shall become effective November 1, 2025.
199		-	Passed the House of Representatives the 25th day of March, 2025.
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202		-
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204		-	Presiding Officer of the House
205		-	of Representatives
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209		-	Passed the Senate the _____ day of __________, 2025.
210		-
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214		-	Presiding Officer of the Senate
	211	+	COMMITTEE REPORT BY: COMMITTEE ON RULES, dated 02/26/2025 - DO PASS,
	212	+	As Amended.