SB 235 Kentucky Senate · 2017 Regular Session

AN ACT relating to business entities. Create a new section of Subchapter 4 of KRS Chapter 14A to permit, excepting certain actions, an action against an entity or foreign entity that maintains a registered office to be brought in the county where the office is situated; create a new section of KRS Chapter 275 to expel a member by judicial order under certain situations except as stated in a written operating agreement; amend 14A.1-070 to change the definition of two terms and to define new terms; amend KRS 15A-060 to establish a $15 fee for a certificate of association; amend KRS 14A.6-010 to require an unincorporated nonprofit association to file with the Secretary of State; amend 271B.8-530 to delete requirement that a director furnish a written affirmation of his or her good faith; amend KRS 271B.8-550 to add shareholders as having certain control; amend 271B.10-200 to state that a shareholder of the corporation will not have a vested property right resulting from any provision in the bylaws; amend KRS 272A.6-050, 275.260, 362.285, 362.481, 362.1-504, 362.2-703, 362.2-933, and 386A.6-060 to exempt enforcement of a judgment by certain entities; amend KRS 273A.040 to exempt certain members from a judgment or order for which members are not liable; amend KRS 275.015 to include in the definition of "nonprofit limited liability company" a requirement that in its articles of organization it has elected to be treated as a nonprofit limited liability company in accordance with KRS 275.025(6); amend KRS 275.175 to permit a written operating agreement that sets forth certain specifics; amend KRS 275.280 to state that except as set forth in a written operating agreement any dissociation of a member does not entitle the former member or assignee to any distribution; amend KRS 275.337 and 386A.6-110 to prohibit a certain derivative proceeding under certain circumstances; amend KRS 382.135 to require additional information to be on a deed to real property.

Bill status signed all 4 stages cleared
Introduction
Feb 2017
Committee Review
Mar 2017
Senate Passage
Mar 2017
Signed into Law
Apr 2017
Introduced Feb 16, 2017 Signed Apr 12, 2017
Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history

Actions timeline

Total actions
35
Key actions
3
Committee
5
Amendments
4
Apr 11, 2017
Introduced
Filed without Governor's signature with the Secretary of State
legislature
Mar 30, 2017
Legislature · Passed
Bill passed 86-1
legislature
Mar 30, 2017
Introduced
House receded from floor amendments (1) and (2-title)
legislature
Mar 30, 2017
Introduced
Posted for passage for receding from House floor amendments (1) and (2-title)
legislature
Mar 30, 2017
Introduced
Posted for passage for concurrence in House floor amendments (1) and (2-title)
legislature
Mar 29, 2017
Committee
To Rules (S)
legislature
Mar 29, 2017
Introduced
Floor amendments (1) and (2-title) filed
legislature
Mar 14, 2017
Legislature · Passed
Posted in committee
legislature
Mar 3, 2017
Committee
To Small Business & Information Technology (H)
legislature
Feb 28, 2017
Legislature · Passed
Reported favorably, to Rules
legislature
Feb 21, 2017
Committee
To Economic Development, Tourism, and Labor (S)
legislature
Feb 16, 2017
Introduced
Introduced in Senate
legislature
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.