Provisions added to include content requirements for certificate of information, including entity name and type, date of formation, list of all filing instruments known.
Provided name of professional entity must be consistent with statute or regulation that governs person that provides professional service through professional entity, ethics.
Name of general partnership must include the words general partnership or G.P. or GP.
Also, name of general partnership filed statement of not-for-profit partnership must include words not for profit general partnership or the abbreviation N.G.P. or NGP.
Provided requirements for plan of conversion, plan of merger, plan of stock exchange.
Described circumstances and requirements upon death of stockholder of domestic professional corporation; interest in, claim to, stock; civil action for fair value of stock.
Added provision that limited liability corporation agreement could provide transferable interest at the death of the holder of the transferable interest; provided requirements.
Legislative History
On Feb. 5, 2025, bill introduced into House; on Feb. 20, 2025, bill passed the House.
On Feb. 25, 2025, bill introduced into Senate; on Apr. 8, 2025, bill passed the Senate.
On Apr. 24, 2025, House enrolled; on Apr. 29, 2025, bill was delivered to the governor.
Effectiveness
Act will be effective Aug. 1, 2025.
May 2025 ALA LEG Governor Approval
On May 6, 2025, ALA LEG reported governor approved bill, assigned as Act 2025-281.
