Bill > AB683

This bill adds a new section to California's Corporations Code that provides a framework for limited liability companies (LLCs) to create and use a certification of their existence and authority. The bill allows an LLC to present a certification that establishes its current legal status and identifies who has the power to act on its behalf. This certification must include specific details such as the LLC's legal name, formation date, jurisdiction, current standing, and a list of authorized signers. The certification must be an acknowledged declaration signed by all current authorized signers, and it must state that the LLC's operating agreements have not been revoked or modified in a way that would make the certification inaccurate. The bill provides legal protection for individuals who rely on these certifications in good faith, stating that a person who acts based on the certification without knowing it contains incorrect information will not be held liable. Additionally, the bill allows these certifications to be recorded with county recorders, particularly for matters involving real property, and permits county recorders to charge a fee to cover their costs of recording the document. The bill aims to create a standardized, reliable method for verifying an LLC's status and authorized representatives, which can help facilitate business transactions and reduce potential disputes.

Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB683