The bill HB200 amends various sections of Alabama's business laws, including the Business Corporation Law, Nonprofit Corporation Law, and Limited Liability Company Law, to implement technical corrections and clarify existing practices. Key insertions include provisions that codify the common law doctrine of independent legal significance, streamline merger agreement approvals, and establish simplified processes for transferring interests upon the death or disqualification of members. The bill also introduces new language allowing entities to make payments or donations that further their business affairs and modifies filing requirements with the Secretary of State to ensure previously filed documents remain valid despite changes in filing locations. Additionally, it updates naming conventions for professional corporations and general partnerships, requiring specific terms to be included in their names.

Furthermore, the bill outlines the procedures for changing registered agents, resignations, and the conversion and merger processes for various business entities. It clarifies that a plan of merger does not need to include disclosure letters at the time of approval and specifies the necessary components of merger plans. The bill also addresses the rights of personal representatives of deceased members in limited liability companies and partnerships, ensuring that interests can be transferred without consideration upon death. Overall, HB200 aims to modernize Alabama's business laws, enhance clarity and efficiency in governance, and provide necessary protections for stakeholders, with an effective date set for August 1, 2025.

Statutes affected:
Introduced: 10A-1-1, 10A-1-1, 10A-1-2, 10A-1-3, 10A-1-5, 10A-1-5, 10A-1-5, 10A-1-5, 10A-1-5, 10A-1-5, 10A-1-7, 10A-1-7, 10A-1-8, 10A-1-8, 10A-2A-7, 10A-2A-9, 10A-2A-11, 10A-2A-11, 10A-2A-11, 10A-3A-12, 10A-3A-12, 10A-3A-13, 10A-4-3, 10A-5A-1, 10A-5A-1, 10A-5A-2, 10A-5A-5, 10A-5A-5, 10A-5A-8, 10A-5A-10, 10A-5A-10, 10A-8A-1, 10A-8A-2, 10A-8A-3, 10A-8A-3, 10A-8A-5, 10A-8A-5, 10A-8A-8, 10A-8A-8, 10A-8A-8, 10A-8A-9, 10A-8A-9, 10A-8A-9, 10A-8A-10, 10A-8A-10, 10A-9A-1, 10A-9A-2, 10A-9A-7, 10A-9A-7, 10A-9A-9, 10A-9A-10, 10A-9A-10, 10A-9A-10
Enrolled: 10A-1-1, 10A-1-1, 10A-1-2, 10A-1-3, 10A-1-5, 10A-1-5, 10A-1-5, 10A-1-5, 10A-1-5, 10A-1-5, 10A-1-7, 10A-1-7, 10A-1-8, 10A-1-8, 10A-2A-7, 10A-2A-9, 10A-2A-11, 10A-2A-11, 10A-2A-11, 10A-3A-12, 10A-3A-12, 10A-3A-13, 10A-4-3, 10A-5A-1, 10A-5A-1, 10A-5A-2, 10A-5A-5, 10A-5A-5, 10A-5A-8, 10A-5A-10, 10A-5A-10, 10A-8A-1, 10A-8A-2, 10A-8A-3, 10A-8A-3, 10A-8A-5, 10A-8A-5, 10A-8A-8, 10A-8A-8, 10A-8A-8, 10A-8A-9, 10A-8A-9, 10A-8A-9, 10A-8A-10, 10A-8A-10, 10A-9A-1, 10A-9A-2, 10A-9A-7, 10A-9A-7, 10A-9A-9, 10A-9A-10, 10A-9A-10, 10A-9A-10