Bill > HB200

This bill makes technical changes and corrections to various sections of the Alabama Business and Nonprofit Entity Code, focusing on electronic filing, name reservations, and corporate governance procedures. Specifically, the bill updates sections related to mergers, conversions, and other corporate actions across different types of business entities including corporations, nonprofit corporations, limited liability companies, partnerships, and limited partnerships. Key modifications include clarifying language around plan of merger and conversion documents, allowing more flexibility in approving corporate agreements, and adding provisions that enable entities to take actions that may be similar across different sections of the code without being invalidated. The bill also introduces new sections related to independent legal significance, which means that an action taken under one provision of the code will not be automatically invalidated if it is similar to an action that could have been taken under another provision but did not strictly meet all requirements. The amendments will apply to contracts, agreements, and plans made by various business entities, with an effective date of August 1, 2025, and will not affect civil actions or proceedings already completed or pending by that date.

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