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IN SB0487
Bill
AI Summary
SB 487 Summary
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Changes Indiana business entity filing fees effective July 1, 2015, with increases for non-electronic filings (e.g., articles of incorporation from $75 to $90 for non-electronic filings).
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Replaces annual report requirements with biennial reports for most business entities (corporations, nonprofits, limited liability companies, limited partnerships).
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Expands remote communication options for shareholder meetings, allowing meetings to be held entirely by remote means with implementing verification and record-keeping requirements.
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Permits parent corporations to merge with wholly owned subsidiaries without shareholder approval under specified conditions, streamlining reorganization procedures.
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Eliminates name registration provisions for foreign corporations, foreign limited partnerships, and foreign limited liability companies while retaining name reservation options.
Legislative Description
Business and other associations. Makes changes to business and other association laws concerning the following: (1) Filing fees for agricultural cooperative associations. (2) Requirements regarding filings and fees for certain filings with the office of the secretary of state. (3) Delivering of documents by the office of the secretary of state. (4) Meetings of shareholders of corporations, including notice requirements. (5) Merger of a parent corporation with a wholly owned subsidiary of the parent corporation. (6) Administrative dissolutions. (7) Reporting requirements. (8) Correcting documents filed with the office of the secretary of state. Repeals provisions concerning the registration of the
Last Action
Public Law 119
5/4/2015