Author: BeresfordBooth

You may be subject to certain new legislation passed by Congress known as the Corporate Transparency Act (“CTA”). If you have any ownership interest or control in any existing entities (such as corporations or limited liability companies), the CTA may directly affect you. Importantly, the CTA significantly impacts applicable entities by imposing a mandatory reporting… Read More

Security interests in personal property are governed by the Uniform Commercial Code (“UCC”). A security interest is an interest granted in personal property to secure payment or performance of an obligation. For example, a business owner borrows money for its business and grants a security interest to the lender in the owner’s inventory and equipment.… Read More

During the life of a Washington entity, whether it is a corporation, limited liability company, limited partnership, or partnership, it may be converted into another form of entity or it may be merged with another entity, whether the same form of entity or a different form of entity. It might also be involved in such… Read More

One aspect of business that is governed by the Uniform Commercial Code (the “UCC”) is secured transactions involving personal property. A good example of such a transaction is the bank loan the repayment of which is secured by a security interest in inventory, equipment, supplies, work in process, and general intangibles, etc. The UCC defines… Read More

Corporations, limited liability companies, and certain types of partnerships, formed in the state of Washington, are required to file annual reports and pay an annual license renewal fee to the Washington Secretary of State (the “Secretary”).  Each year, the Secretary sends notice to the entity that its annual report and fees are due by a… Read More

In 1967, Washington enacted the Washington Nonprofit Corporation Act, Revised Code of Washington (“RCW”) Chapter 24.03. After several years of review and study, Washington enacted a new Washington Nonprofit Corporation Act, RCW 24.03A. The new act became effective January 1, 2022. RCW Chapter 24.03 was repealed effective that date. The new act applies to all… Read More