The bill HB200 introduces comprehensive amendments to various sections of Alabama's business laws, including the Business Corporation Law, Nonprofit Corporation Law, Limited Liability Company Law, and Partnership Law, among others. Key insertions include provisions for electronic filing, name reservations, and the common law doctrine of independent legal significance. The bill simplifies processes related to the transfer of interests upon the death or disqualification of members, allowing such transfers with or without consideration while ensuring compliance with creditor rights. It also clarifies the requirements for filing instruments with the Secretary of State and mandates specific information in certificates of information, enhancing the clarity and efficiency of corporate governance.

Additionally, the bill modifies existing legal language, such as changing "Chapter" to "Chapters" and adding provisions for the Alabama Statewide Trade Association Law. It streamlines the processes for changing registered agents, resignations, and the conversion and merger of entities, while ensuring that all parties involved are adequately protected. The bill emphasizes the enforceability of partnership agreements and clarifies the rights and obligations of partners and their representatives. Overall, HB200 aims to modernize Alabama's business laws, making them more efficient and accessible, 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