On Apr. 22, KNS LEG enacted a bill on business entity transactions.
KNS LEG enacted bill HB2371 related to amendments to act on limited liability company, business entity transactions, and business entity standard treatment.
Added new sections to Kansas revised limited liability company (LLC) act, allow the use of an electronic transmission and electronic signature in conducting a transaction.
Make subscription for a LLC interest, regardless of how submitted, irrevocable if subscription states is irrevocable to extent provided by the terms of the subscription.
Requirements for making act, transaction by LLC that void or voidable later ratified.
Bill would expand the requirements for dissolution of a series limited liability company.
Revised Business entity transactions act, on required contents of documents, including certificate of merger, certificate of interest exchange, certificate of conversion.
Bill would require that certificate of amendment to certificate of designation, certificate of merger or consolidation to be filed by limited liability company with the Secretary.
Under Business entity standard treatment act, entity must maintain a resident agent.
Amended provisions concerning a company’s resident agent, including name change.
Limited liability company filing fees to not exceed $150, which would allow agency to work through the regulation process in order to lower fees if warranted in the future.
Legislative History
On Feb. 7, 2025, bill introduced in the House; on Feb. 20, 2025, bill passed House.
On Feb. 26, 2025, bill introduced into Senate; on Mar. 18, 2025, bill passed Senate.
On Apr. 4, 2025, bill delivered to governor; on Apr. 10, 2025, signed by the governor.
Effectiveness
Act will take effect and be in force from and after its publication in the statute book, which is always Jul. 1 of year that bill passed the Legislature; effective Jul. 1, 2025.
