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12/5/2016
1
Indiana State Bar Association CLE Program
Business Entity Harmonization Project
Indiana Business Law Survey CommissionDecember 6, 2016
1914
U.P.A.IC 23-4-1
1914
U.P.A.IC 23-4-1
L.L.P.IC 23-4-1-44 to 52
12/5/2016
2
1914
U.P.A.IC 23-4-1
L.L.P.IC 23-4-1-44 to 52
1986
B.C.L.IC 23-1-17 to 54
1914
U.P.A.IC 23-4-1
L.L.P.IC 23-4-1-44 to 52
1986
B.C.L.IC 23-1-17 to 54
ProfessionalIC 23-1.5
1914
U.P.A.IC 23-4-1
L.L.P.IC 23-4-1-44 to 52
1986
B.C.L.IC 23-1-17 to 54
ProfessionalIC 23-1.5
BenefitIC 23-1.3
12/5/2016
3
1988
L.P.IC 23-16
1914
U.P.A.IC 23-4-1
L.L.P.IC 23-4-1-44 to 52
1986
B.C.L.IC 23-1-17 to 54
ProfessionalIC 23-1.5
BenefitIC 23-1.3
1988
L.P.IC 23-16
1914
U.P.A.IC 23-4-1
L.L.P.IC 23-4-1-44 to 52
1986
B.C.L.IC 23-1-17 to 54
ProfessionalIC 23-1.5
BenefitIC 23-1.3
1991
N.F.P.IC 23-17
1988
L.P.IC 23-16
1914
U.P.A.IC 23-4-1
L.L.P.IC 23-4-1-44 to 52
1986
B.C.L.IC 23-1-17 to 54
ProfessionalIC 23-1.5
BenefitIC 23-1.3
1991
N.F.P.IC 23-17
1993
L.L.C.IC 23-18
12/5/2016
4
1988
L.P.IC 23-16
1914
U.P.A.IC 23-4-1
L.L.P.IC 23-4-1-44 to 52
1988
B.C.L.IC 23-1-17 to 54
ProfessionalIC 23-1.5
BenefitIC 23-1.3
1991
N.F.P.IC 23-17
1993
L.L.C.IC 23-18
Series LLCsIC 23-18.1
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.1. Filing.
L.L.P.IC 23-4-1-44 to 52
1. Filing.
N.F.P.IC 23-17
1. Filing.
L.L.C.IC 23-18
1. Filing.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.2. Name.
1. Filing.2. Name.
L.L.P.IC 23-4-1-44 to 52
1. Filing.2. Name.
N.F.P.IC 23-17
1. Filing.2. Name.
L.L.C.IC 23-18
1. Filing.2. Name.
12/5/2016
5
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.2. Name.3. Reg. agent.
1. Filing.2. Name.3. Reg. agent.
L.L.P.IC 23-4-1-44 to 52
1. Filing.2. Name.3. Reg. agent.
N.F.P.IC 23-17
1. Filing.2. Name.3. Reg. agent.
L.L.C.IC 23-18
1. Filing.2. Name.3. Reg. agent.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.2. Name.3. Reg. agent.4. Foreign.
1. Filing.2. Name.3. Reg. agent.4. Foreign.
L.L.P.IC 23-4-1-44 to 52
1. Filing.2. Name.3. Reg. agent.4. Foreign.
N.F.P.IC 23-17
1. Filing.2. Name.3. Reg. agent.4. Foreign.
L.L.C.IC 23-18
1. Filing.2. Name.3. Reg. agent.4. Foreign.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.P.IC 23-4-1-44 to 52
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.C.IC 23-18
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
N.F.P.IC 23-17
12/5/2016
6
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.P.IC 23-4-1-44 to 52
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.C.IC 23-18
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
N.F.P.IC 23-17
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.P.IC 23-4-1-44 to 52
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
N.F.P.IC 23-17
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.C.IC 23-18
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.P.IC 23-4-1-44 to 52
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
N.F.P.IC 23-17
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.C.IC 23-18
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
IC 23-15
12/5/2016
7
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.P.IC 23-4-1-44 to 52
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
N.F.P.IC 23-17
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
L.L.C.IC 23-18
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. dis-
solution.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
IC 23-15
1. Assumed name.
2. Other.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Merger.1. Merger.
L.L.P.IC 23-4-1-44 to 52
1. Merger.
N.F.P.IC 23-17
1. Merger.
L.L.C.IC 23-18
1. Merger.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Merger.2. Conversion.
1. Merger.
3. Conversion.
L.L.P.IC 23-4-1-44 to 52
1. Merger.2. Conversion.
N.F.P.IC 23-17
1. Merger.
L.L.C.IC 23-18
1. Merger.2. Conversion.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
12/5/2016
8
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Merger.2. Conversion.
1. Merger.2. Exchange.3. Conversion.
L.L.P.IC 23-4-1-44 to 52
1. Merger.2. Conversion.
N.F.P.IC 23-17
1. Merger.
L.L.C.IC 23-18
1. Merger.2. Conversion.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Merger.2. Conversion.
1. Merger.2. Exchange.3. Conversion.4. Domest’ion
L.L.P.IC 23-4-1-44 to 52
1. Merger.2. Conversion.
N.F.P.IC 23-17
1. Merger.2. Domest’ion
L.L.C.IC 23-18
1. Merger.2. Conversion.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Merger.2. Conversion.
1. Merger.2. Exchange.3. Conversion.4. Domest’ion
L.L.P.IC 23-4-1-44 to 52
1. Merger.2. Conversion.
N.F.P.IC 23-17
1. Merger.2. Domest’ion
L.L.C.IC 23-18
1. Merger.2. Conversion.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
METAIC 23-0.6
1. Merger.2. Exchange.3. Conversion.4. Domest’ion
12/5/2016
9
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
1. Merger.2. Conversion.
1. Merger.2. Exchange.3. Conversion.4. Domest’ion
L.L.P.IC 23-4-1-44 to 52
1. Merger.2. Conversion.
N.F.P.IC 23-17
1. Merger.2. Domest’ion
L.L.C.IC 23-18
1. Merger.2. Conversion.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
METAIC 23-0.6
1. Merger.2. Exchange.3. Conversion.4. Domest’ion
Also applies to general partnerships.
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
METAIC 23-0.6
1. Merger.2. Exchange.3. Conversion.4. Domest’ion.
The Status Quo
12/5/2016
10
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
12-5(h)18-1(L)
L.L.P.IC 23-4-1-44 to 52
NONE
N.F.P.IC 23-17
29-1(e)
L.L.C.IC 23-18
12-1(b)
HUBIC 23-0.5
METAIC 23-0.6
CREDIT CARD PAYMENTS
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
12-5(h)18-1(L)
L.L.P.IC 23-4-1-44 to 52
NONE
N.F.P.IC 23-17
29-1(e)
L.L.C.IC 23-18
12-1(b)
HUBIC 23-0.5
METAIC 23-0.6
CREDIT CARD PAYMENTS
2-14(g)
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
2-2(a)23-2(a)
L.L.P.IC 23-4-1-44 to 52
45.3(a)
N.F.P.IC 23-17
NONE
L.L.C.IC 23-18
2-9(a)
HUBIC 23-0.5
METAIC 23-0.6
RENEW NAME RESERVATIIONS
3-3(a)
12/5/2016
11
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
10(a)49-5(c)
L.L.P.IC 23-4-1-44 to 52
49(c)
N.F.P.IC 23-17
26-5(c)
L.L.C.IC 23-18
11-1(a)
HUBIC 23-0.5
METAIC 23-0.6
SCOPE OF INTERNAL AFFAIRS DOCTRINE
5-1:Law of jurisdiction of formation governs both the
entity’s internal affairs and personal liability for the entity’s obligations.
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
10-2(b)49-1(b)
L.L.P.IC 23-4-1-44 to 52
NONE
N.F.P.IC 23-17
26-1(b)
L.L.C.IC 23-18
11-2(b)
HUBIC 23-0.5
METAIC 23-0.6
WHAT CONSTITUTES DOING BUSINESS
5-5(a)
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
NONE51-1
L.L.P.IC 23-4-1-44 to 52
NONE
N.F.P.IC 23-17
26-12
L.L.C.IC 23-18
11-15
HUBIC 23-0.5
METAIC 23-0.6
5-11
TERMINATING FOREIGN REGISTRATIONS
12/5/2016
12
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
Merger:40-8(c)
L.L.P.IC 23-4-1-44 to 52
L.L.C.IC 23-18
HUBIC 23-0.5
METAIC 23-0.6
CROSS-SPECIES INTEREST EXCHANGES
Merger:7-9(c)
Merger:53(c)
Merger:3-13(c)
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
Merger:40-8(c)
L.L.P.IC 23-4-1-44 to 52
L.L.C.IC 23-18
HUBIC 23-0.5
METAIC 23-0.6
CROSS-SPECIES INTEREST EXCHANGES
Merger:7-9(c)
Merger:53(c)
Merger:3-13(c)
Exchange:40-2
Exchange:NONE
Exchange:NONE
Exchange:NONE
3-1
B.C.L.IC 23-1-17 to 54
L.P.IC 23-16
NONE38.5-4
L.L.P.IC 23-4-1-44 to 52
NONE
N.F.P.IC 23-17
31-1(B)
L.L.C.IC 23-18
NONE
HUBIC 23-0.5
METAIC 23-0.6
DOMESTICATION
5-1
12/5/2016
13
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
METAIC 23-0.6
1. Merger.2. Exchange.3. Conversion.4. Domest’ion.
A Quick Look atHow the Bill was Assembled
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
METAIC 23-0.6
1. Merger.2. Exchange.3. Conversion.4. Domest’ion.
12/5/2016
14
Uniform = Current
Current Only
Uniform differs from
Current
Uniform = Some Current
(Not All)
HUBIC 23-0.5
METAIC 23-0.6
Uniform Only
Extend to all current
What’s New?
LLPs and LPs to file
biennial reports.
12/5/2016
15
Secretary of Stategiven authority to reserve names of administratively dissolved entities
pending reinstatement.
Registered agents that are entitiesmust be organized under Indiana law or
registered to do business here
“Commercial Registered Agents”recognized.
12/5/2016
16
Foreign entities no longer required to specify governing persons
when registering.
Cross-speciesinterest exchanges
authorized.
Domesticationsauthorized for
LLPs, LPs, and LLCs.
12/5/2016
17
Notes and Nuances
Indiana continues to follow the 1985 Uniform Limited Partnership Act, not the most recent
(2001) version.
Indiana does not allow “Ltd.” or “Co.” in the names of LLCs.
Hub does not change this practice.
12/5/2016
18
Law of jurisdiction of an entity’s formation governs both the entity’s internal affairs and personal liability for the entity’s obligations.
MERGERS :THREE STATUTES TO CONSIDER
Current BCL willcontinue to govern:
Mergers between business corporations (domestic and foreign).
Current NFP willcontinue to govern:
Mergers between NFP corporations (domestic and foreign).
META willgovern:
All cross-species mergers, including cross-species mergers with corporations.
Current BCL provisions on conversions are the same as those in META.
12/5/2016
19
Current BCL rules on general partner personal liability following conversion of a general
partnership to a limited liability entity are extended to cross-species mergers and interest exchanges.
META does not provide any new dissenters’ rights. All existing appraisal rights, domestic or
foreign, will be respected in any merger, share or interest exchange, conversion, or domestication.
“Protected agreement” provisions of the uniform act not included in the Indiana META.
12/5/2016
20
HUBIC 23-0.5
1. Filing.2. Name.3. Reg. agent.4. Foreign.5. Admin. diss.
METAIC 23-0.6
1. Merger.2. Exchange.3. Conversion.4. Domest’ion.