Signed by Governor Laura Kelly

Vote Smart's Synopsis:

Vote to pass a bill that amends filing requirements for businesses in Kansas by removing certain requirements.

Highlights:

• Specifies that any business trust, domestic or foreign, that has obtained authority under this act to transact business in Kansas may surrender its authority at any time by (Sec. 1):

• Filing in the office of the Secretary of State a certificate of dissolution or withdrawal executed by an authorized person;

• Paying the fee required by K.S.A. 17- 7506, and amendments thereto, at the time the resolution certificate of dissolution or withdrawal is filed; and

• Filing all business entity information reports and paying all fees required by K.S.A. 17-2036, and amendments thereto, that such business trust has not previously filed and paid.

• Requires that during 5 years following the effective date of such withdrawal the business trust shall nevertheless be entitled to convey and dispose of its property and assets in this state, settle and close out its business in this state, and perform any other act or acts pertinent to the liquidation of its business, property, and assets in this state (Sec. 1).

• Specifies that whenever any foreign corporation admitted to do business in this state is a party to a merger or consolidation with any other foreign corporation, whether or not admitted to do business in this state, such foreign corporation shall file with the secretary of state of this state, within 30 days after the time the merger or consolidation becomes effective stating (Sec. 2):

• The corporate parties thereto;

• The jurisdiction of incorporation of each corporate party;

• The time when such a merger or consolidation became effective;and

• That the resulting or surviving corporation is a corporation in good standing in such a jurisdiction.

Full Bill Text