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With the close of summer, businesses across the United States are finally confronting the looming corporate disclosure requirements imposed by the Corporate Transparency Act (CTA) and the New York Corporate Transparency Act (NY CTA). These laws introduce stringent reporting obligations aimed at...
On July 17, 2024, Delaware Governor John Carney signed into law the 2024 amendments to the General Corporation Law of the State of Delaware (the “DGCL”), the Delaware Limited Liability Company Act (the “LLC Act”), the Delaware Revised Uniform Limited Partnership Act (the “LP Act”), the Delaware...
The National Venture Capital Association (“ NVCA”) has recently (but without any fanfare) released substantively important revisions to its model legal documents, specifically, the Investor Rights Agreement, the Stock Purchase Agreement, and the Certificate of Incorporation. These changes address...
On April 23, 2024, the Federal Trade Commission (FTC) issued its proposed final rule (the “Rule”) banning the use of future noncompete agreements for all workers, including senior executives, 89 FR 38342. Noncompete agreements have long been a valuable tool in a company’s toolbox to mitigate the...
Josh Pasker, Vice Chair of Saul Ewing's Public Finance Practice, will be speaking on May 16, 2024, during the LeadingAge Inhouse Counsel Conference. Josh's topic will be financing issues and the impact on senior living communities.
Kermit Nash will be participating in the Global Business Connections Conference 2024 being held in West Fargo, North Dakota on May 15th. He will be the moderator of a three-person panel during the afternoon's Global Agility Panel Discussion. This Conference is being hosted by the North Dakota Trade...
The decision of the Federal District Court for the Northern District of Alabama in the case of National Small Business United v. Yellen , announced on Friday, March 1, 2024, has created uncertainty for both reporting companies and their attorneys under the Corporate Transparency Act (“CTA”). What...
On February 21, 2024, the Pennsylvania Supreme Court (the "PA Supreme Court") issued its decision in Ursinus College v. Prevailing Wage Appeals Board. The Pa Supreme Court unanimously affirmed the Pennsylvania Commonwealth Court's decision that a construction project financed with tax-exempt bonds...
The federal Corporate Transparency Act (“CTA”) requires that corporations submit a report to the Financial Crimes Enforcement Network (“FinCEN”) before January 1, 2025, with information on the persons who exercise substantial control over the corporation. As currently in place, condominium and...
New requirements arising from the Corporate Transparency Act of 2019 took effect on Jan 1, 2024. If your small business is formed as an entity that meets the definition of a “Reporting Company” under the Act, your organization will have to report information about their beneficial owners, i.e., the...
CHICAGO, (DECEMBER 11, 2023) – In joining Saul Ewing as a new partner, Julie Workman brings more than two decades of experience in real estate and land use law to help clients carry their commercial and residential projects from concept to completion. She is resident in the firm’s Chicago office. Ms...
For all “reporting companies” created or registered on or after January 1, 2024, information concerning the “beneficial owners” of the reporting company must be reported to the Financial Crimes Enforcement Network (“FinCEN”) along with information concerning “company applicants.” As a result, both...