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Legislative updates

Assembly Bill 3861, effective March 20, 2020, amends the Business Corporation Act by authorizing virtual shareholder meetings without a physical location during a state of emergency declared by the Governor.
Effective March 1, 2020, a Streamlined Program will be in effect that will allow certain business entities in revoked status due to Annual Report delinquency to either reinstate or dissolve by paying a single $500 fee without tax clearance or any additional administrative costs associated with dissolution or reinstatement. Entities will have to attest that they have satisfied any known tax obligations. Entities with any outstanding tax obligations will have to first satisfy their tax obligations before becoming eligible for the Program. The Streamlined Program will end on June 15, 2020.

Case summaries

Legal Representation
Goldstein v. Roxborough Real Estate, LLC, C.A. No:15-cv-3835, decided 1/22/2018. The U.S. District Court in New Jersey ruled that a limited partner could not bring a lawsuit on behalf of limited partnerships because he was not an attorney, even if the limited partnerships could not afford an attorney and if all of the partnership interests were assigned to the limited partner.

Other notices

There are no new notices at this time.