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2015 Amendments and Additions to Kentucky's Business Entity Laws

2015 Amendments and Additions to Kentucky's Business Entity Laws

On April 1, 2015, Kentucky Governor Steve Beshear signed into law House Bill 440, which includes several significant additions and changes to Kentucky’s business entity laws.  The 2015 Legislation will become effective on June 24, 2015 (90 days after the closing of the 2015 General Assembly session on March 25, 2015).

Additions and changes include the following. Click here to view this article in its entirety, and for additional detail regarding each addition/change.

  1. Adoption of the Revised Uniform Unincorporated Nonprofit Association Act 
  2. Amendments to the Kentucky Business Corporation Act (KRS Chapter 271B)
  3. Amendments to the Kentucky Limited Liability Company Act (KRS Chapter 275)
  4. Amendments to the Kentucky Nonprofit Corporation Act (KRS Chapter 273)
  5. General and Limited Partnerships (KRS Chapter 362) 
  6. Miscellaneous Amendments
    1. Electronic Filing
    2. Foreign Insurers
    3. Uniform Electronic Transactions Act (KRS Chapter 369)
    4. Banks and Trust Companies

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Mark F. Sommer is FBT’s Tax, Benefits and Estates Practice Group leader, focusing on state, local and federal tax, incentives, tax controversy and litigation. He has successfully handled thousands of audits, protests, appeals, and transactional matters.