Business lawyers take note: Annual report filing and other significant changes coming to Pennsylvania.
Pennsylvania Act 122 became effective as of January 2, 2023, resulting in several amendments to Pennsylvania’s Title 15 Corporations and Unincorporated Associations.
One of the most significant changes impacts annual report filing requirements. For many years, Pennsylvania has been the only state that does not require entities organized under its laws to file an annual report confirming the continued existence of that entity. Instead, entities have been required to confirm their existence once every ten years. Act 122 now requires an annual report filing for various entities organized or authorized to do business in Pennsylvania.
In this presentation, panelists—each of whom had a hand in drafting these changes—will offer an overview of the Act, focusing on the more significant changes to Title 15 (Corporations and Unincorporated Associations), including:
- Annual reports and changes to certain other filings with and processes of the Corporations Bureau
- The New ratification process
- In re Nine West LBO Securities Litigation and new updates to provisions regarding standard of care for directors and Ooficers
- Two-step transactions for mergers and interest exchanges
- Changes to the special litigation committee statutes
- Registration of foreign entities and what constitutes “doing business”
All attendees will receive the course materials (excludes Corporations and Unincorporated Lawsource) as a digital download.
Additional Resource Available for Purchase: Pennsylvania Corporations And Unincorporated Associations Lawsource*, © Bisel Publishing, discounted with your registration.
This handy soft cover source for business lawyers contains:
- Relevant full text sections of Title 15
- Current committee comments
- Draftsmen's comments for 1990 anti-takeover provisions
- Is edited by William H. Clark, Jr., the chair and reporter of the bar association committee that wrote the 2022 amendments and comments.
Order the book today to save $50 on the purchase price. Discounted price with your registration to this program is $149 (without registration: $199). Order online: Bisel Publishing and enter code (found on last page of the supplement included in your course materials) in promo code field to receive the discount.
*Note that this book is not the course book, but a valuable resource you may wish to add to your personal library.
Recorded in May 2023.