The Business Entity Harmonization
Act in 30 Seconds or Less
A
By: Katie S. Cannon
s many of our readers are aware,
eff ective January 1, 2018,
Indiana Senate Bill 443, known as
the “Business Entity Harmonization
Act,” became law. The Act includes
signifi cant changes to Indiana’s
current business entity laws, many
of which have been substantially
unchanged since the 1990s. On
March 13, 2018, Indiana’s business
entity laws were further amended
(retroactive to January 1, 2018) to
refl ect various technical changes
and to allow an entity that has had
its registration revoked or that has
been administratively dissolved to
apply for reinstatement not later
than fi ve (5) years after the date of
its revocation or dissolution.
The Indiana Business Law Survey
Commission and the Indiana
Secretary of State’s offi ce have done a
wonderful job hosting programming
and providing information on these
changes. However, for those of you
who haven’t been able to attend
one of these programs and don’t
4
Riley Bennett Egloff LLP - April 2018
have time to read through the new
bill and announcements, this article
overviews information and changes
we think everyone needs to know.
1. Revocations and administrative
dissolutions will occur faster
and reinstatement is limited.
and
• Revocations
administrative
dissolutions
will now occur fi ve (5) months
after an entity receives a past
due notice of its business
entity report fi lings
• This is a change in the Indiana
Secretary of State’s current
policy, where we have in the
past seen revocations and
administrative
dissolutions
taking up to two (2) or more
years
• It is now more important than
ever to ensure your businesses
take note of these entity
reporting requirements and
deadlines
• Additionally, an entity that
has been administratively