Bill Title: Amends the Entity Omnibus Act. Provides that the organic law of the entity, in addition to the Act, may displace the principles of law and equity. Provides that the Secretary of State may propound interrogatories as may be reasonably necessary to ascertain whether entities subject to the Act have complied with the Act. Provides process for the response to and filing of interrogatories by the Secretary. Provides that the Act controls in the event of any conflict with the provisions of other specified Acts applicable to business organizations. Provides that an entity shall maintain a plan of conversion or domestication in accordance with the entity's policy for maintaining books and records. Deletes language exempting certain entities from the requirement that a plan of conversion be approved in a record. Deletes language allowing the filing of a plan of conversion, instead of a statement of conversion, under certain circumstances. Makes other changes concerning: the effect of conversion or domestication on the name of an entity; and the effective date of a domestication. Effective July 1, 2019.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2019-08-23 - Public Act . . . . . . . . . 101-0491 [HB2860 Detail]

Text: Latest bill text (Chaptered) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Lamont Robinson [D]	Primary	Sponsored Bills	HD-005	FollowTheMoney	Ballotpedia	VoteSmart
Senator Don Harmon [D]	Primary	Sponsored Bills	SD-039	FollowTheMoney	Ballotpedia	VoteSmart

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