Bill H.243 proposes significant amendments to the regulation of business organizations in Vermont, focusing on modernizing and streamlining the legal framework. Key changes include the replacement of "his or her" with "the Secretary's" regarding the Secretary of State's facsimile signature, and the renaming of the "Corporations Division" to the "Business Services Division." The bill also updates terminology related to cooperatives, clarifying definitions and introducing new requirements for articles of incorporation, such as providing the name, email, and address of an agent for service of process. Additionally, it establishes that associations may issue warehouse receipts and clarifies the powers of cooperative associations, including their ability to merge or consolidate.

The bill further amends various sections of the Vermont statutes concerning business registration and administration, including the requirement for registrants to reregister their business name every five years and the introduction of a certificate of good standing for businesses. It streamlines the registration process for individuals and partnerships operating under assumed names, mandates the inclusion of email information for agents, and clarifies the responsibilities of registered agents for service of process. Overall, these amendments aim to enhance compliance, accountability, and transparency for businesses operating within the state, with the act set to take effect on July 1, 2025.

Statutes affected:
As Passed By the House -- Official: 3-102a, 3-133, 11-15, 11-22, 11-23, 11-25, 11A-14, 11A-15, 11A-16, 11B-14, 11B-15, 11B-16, 11C-14, 12-25, 30-81
As Passed By the House -- Unofficial: 3-102a, 3-133, 11-15, 11-22, 11-23, 11-25, 11A-14, 11A-15, 11A-16, 11B-14, 11B-15, 11B-16, 11C-14, 12-25, 30-81
As Passed by Both House and Senate -- Official: 3-102a, 3-133, 11-15, 11-22, 11-23, 11-25, 11A-14, 11A-15, 11A-16, 11B-14, 11B-15, 11B-16, 11C-14, 12-25, 30-81, 11-4028
As Passed by Both House and Senate -- Unofficial: 3-102a, 3-133, 11-15, 11-22, 11-23, 11-25, 11-4028, 11A-14, 11A-15, 11A-16, 11B-14, 11B-15, 11B-16, 11C-14, 12-25, 30-81