senate Bill S4308

Signed By Governor
2011-2012 Legislative Session

Allows a professional service limited liability company to be surviving business entity in the case of a merger with a professional service corporation

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Sep 23, 2011 signed chap.564
Sep 12, 2011 delivered to governor
Jun 17, 2011 returned to senate
passed assembly
ordered to third reading rules cal.390
substituted for a678
May 11, 2011 referred to corporations, authorities and commissions
delivered to assembly
passed senate
May 10, 2011 advanced to third reading
May 09, 2011 2nd report cal.
May 04, 2011 1st report cal.546
Mar 28, 2011 referred to corporations, authorities and commissions

Votes

view votes

May 4, 2011 - Corporations, Authorities and Commissions committee Vote

S4308
5
0
committee
5
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Corporations, Authorities and Commissions committee vote details

Corporations, Authorities and Commissions Committee Vote: May 4, 2011

aye wr (1)

Co-Sponsors

S4308 - Details

See Assembly Version of this Bill:
A678
Law Section:
Business Corporation Law
Laws Affected:
Amd ยงยง1501 & 1516, BC L
Versions Introduced in 2009-2010 Legislative Session:
S8330, A246

S4308 - Summary

Provides that the surviving business entity in the case of a merger between a professional service corporation and a professional service limited liability company may be a professional service limited liability company.

S4308 - Sponsor Memo

S4308 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4308

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 28, 2011
                               ___________

Introduced  by  Sens. DeFRANCISCO, RANZENHOFER -- read twice and ordered
  printed, and when printed to be committed to the Committee  on  Corpo-
  rations, Authorities and Commissions

AN  ACT  to amend the business corporation law, in relation to providing
  that the surviving business entity in the case of a merger  between  a
  professional  service  corporation  and a professional service limited
  liability company may be  a  professional  service  limited  liability
  company

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 1501 of the business corporation law, as  added  by
chapter 974 of the laws of 1970, is amended to read as follows:
S 1501. Definitions.
  As  used  in  this article, unless the context otherwise requires, the
term: (a) "licensing authority" means the regents of the  university  of
the state of New York or the state education department, as the case may
be,  in  the  case  of all professions licensed under title eight of the
education law, and the appropriate appellate  division  of  the  supreme
court in the case of the profession of law.
  (b) "Profession"  includes  any practice as an attorney and counselor-
at-law, or as a licensed physician, and those occupations designated  in
title eight of the education law.
  (c) "Professional  service"  means  any  type of service to the public
which may be lawfully rendered by a member of a  profession  within  the
purview of his OR HER profession.
  (d) "Professional  service  corporation" means a corporation organized
under this article.
  (e) "Officer" does not include the secretary or an assistant secretary
of a corporation having only one shareholder.
  (F) "OTHER BUSINESS ENTITY" MEANS ANY  PERSON  OTHER  THAN  A  NATURAL
PERSON,  GENERAL  PARTNERSHIP  OR  A DOMESTIC OR FOREIGN BUSINESS CORPO-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03146-01-1

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