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MS HB1105

Bill

Official Source

Status

Passed

4/20/2024

Primary Sponsor

Lee Yancey

Click for details

Origin

House of Representatives

2024 Regular Session

AI Summary

  • Removes the prohibition on limited liability companies (LLCs) from using the words "partnership" or "limited partnership" in their names as set forth in their certificate of formation
  • LLCs must still contain "limited liability company" or the abbreviation "L.L.C." or "LLC" in their name
  • LLCs must continue to maintain names distinguishable from other entities registered with the Secretary of State, unless special authorization is granted
  • The remaining naming restrictions on words like "bank," "banker," "insurance," "trust," "corporation," and "incorporated" remain in effect
  • The act takes effect July 1, 2024

Legislative Description

Limited Liability Company; remove prohibition on using the words "partnership" and "limited parternship" when providing a name for.

Last Action

Approved by Governor

4/20/2024

Committee Referrals

Business and Financial Institutions2/27/2024
Business and Commerce2/9/2024

Full Bill Text

No bill text available