Following are summaries of bills enacted into law that may affect filings made and business conducted with the Secretary of State’s office. Unless otherwise indicated, these measures took effect on January 1, 2015. To research any legislation or existing law, please refer to the California Legislative Information website.
Renames "flexible purpose" corporation as "social purpose" corporation. Existing flexible purpose corporations are not required to change their names or the content in their Articles of Incorporation to comply with these statutory changes.
Also removes ambiguities in content requirements for certificates of amendment for domestic corporations and conversion documents for other business entity types seeking to convert to social purpose corporations.
Standardizes business entity filing processes and specific content across entity types in support of pending automation through California Business Connect. Among other changes, streamlines specific requirements for conversions, terminations, name registrations and reservations, agent for service of process resignations, disclaimers, and signature requirements.
Requires the addition of the following specific disclaimer to the top of the form certificates of acknowledgment, proof of execution and jurat: "A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document."
Reinstates a $1,500 civil penalty for notaries public who willfully fail to discharge their required duties or responsibilities.