Posted on August 20, 2007 by Jack Howell

Early Adoption of the Texas Business Organizations Code?

The Texas Business Organizations Code became effective January 1, 2006 for all entities formed after that date. It becomes effective January 1, 2010, for ALL Texas entities. 

If your entity was formed before January 1, 2006, you can “opt” into the new law before 2010 by filing a form with the Texas Secretary of State. Some reasons for your entity to opt in are:

  1. Favorable reinstatement provisions for suspended entities
  2. Cross-entity merger issues
  3. Amending governing documents and desire to use current terms
  4. Conversion or merger changes
  5. Identification of true entity type of foreign entity qualified as foreign LLC

Consult a knowledgeable corporate attorney on why or how your entity can comply with the new Texas statutes. 

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Posted on August 20, 2007 by Jack Howell

Entities Need Maintenance, Too

Just as you may find yourself without a car by ignoring regular maintenance, you may find yourself without liability protection and expected business and tax advantages if you ignore your entity’s maintenance. If you have an ownership or management interest in an entity, it may be time to perform an Entity Maintenance Checkup. 

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