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Amendments › HF 655

Amendment H-1171 to HF 655

Providing for business organizations, including limited liability companies, providing penalties, and including effective date provisions

Adopted · April 4, 2023

Filed March 30, 2023 in the House by

What it changes

  1. Page 3, by striking lines 13 and 14 and inserting “automated process used in conventional commercial practice.”
  2. Page 3, line 25, by striking “county” and inserting “country”
  3. Page 21, line 12, after “state” by inserting “for”
  4. Page 27, line 32, by striking “or authorization” and inserting “or authorization registration”
  5. Page 45, line 13, by striking “property” and inserting “property ,”
  6. Page 77, by striking lines 27 through 30 and inserting: “c. Once After the limited liability company has at least one member, the passage of that member and any other member dissociate, and ninety consecutive days pass during which the company has no members . , unless before the end of the period all of the following apply:”
  7. Page 79, line 20, by striking “may resume” and inserting “resume resumes”
  8. Page 94, by striking lines 8 through 21 and inserting: “A member may maintain a derivative action to enforce a right of a limited liability company as follows:
  9. The A member may maintain a derivative action to enforce a right of a limited liability company, if the member first makes a demand on the other members in a member-managed limited liability company, or the managers of a manager-managed limited liability company, requesting that they cause the company to bring an action to enforce the right, and the managers or other members do not bring the action within ninety days from the date the demand was made unless the member has earlier been notified that the demand has been rejected by the company or unless irreparable injury to the company would result by waiting for the expiration of the ninety-day period.
  10. A demand under subsection 1 would be futile.”
  11. Page 142, line 4, by striking “shareholder” and inserting “member”
  12. Page 158, by striking lines 16 through
  14. Page 158, after line 26 by inserting: “Sec. ___. Section 524.310, subsection 5, paragraph b, Code 2023, is amended to read as follows: b. A corporate or company name reserved, registered, or protected as provided in section 489.109 , 489.114A, 489.706, 490.402 , 490.403 , 504.402 , or 504.403 .”
  15. By renumbering as necessary.

Official amendment (PDF) · In the Bill Book