As of October 1st, SB 967 will be in effect. Signed by Governor Malloy, the bill allows LLC or LP reinstatement after administrative dissolution or cancellation for failure to maintain a registered agent or file annual reports to relate back to the effective date of the dissolution. It also amends the business corporation act regarding to qualifications for directors, advancement of expenses to officers, employees and agents, and time limits for voting trusts and shareholder agreements.

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