HB472 Alabama 2017 Session

Summary

Primary Sponsor

Bill Poole

Republican

Session

Regular Session 2017

Title

Alabama Partnership Act, repealed and replaced, procedures for formation and dissolution, conforming changes, Secs. 10A-1-5.10, 10A-1-9.01 added; Secs. 10A-1-5.07, 10A-1-7.33, 10A-8-1.01 to 10A-8-11.04, inclusive, repealed; Secs. 10A-1-1.02, 10A-1-1.03, 10A-1-1.06, 10A-1-1.08, 10A-1-1.12, 10A-1-2.02, 10A-1-3.06, 10A-1-3.17, 10A-1-3.32, 10A-1-3.33, 10A-1-3.41, 10A-1-4.01, 10A-1-4.02, 10A-1-4.25, 10A-1-4.31, 10A-1-5.01, 10A-1-5.02, 10A-1-5.03, 10A-1-5.04, 10A-1-5.05, 10A-1-5.06, 10A-1-5.08, 10A-1-5.11, 10A-1-5.12, 10A-1-5.31, 10A-1-5.32, 10A-1-5.33, 10A-1-7.01, 10A-1-7.02, 10A-1-7.03, 10A-1-7.04, 10A-1-7.05, 10A-1-7.06, 10A-1-7.07, 10A-1-7.11, 10A-1-7.12, 10A-1-7.13, 10A-1-7.14, 10A-1-7.22, 10A-1-7.23, 10A-1-7.24, 10A-1-7.31, 10A-1-7.32, 10A-1-7.34, 10A-1-7.36, 10A-1-7.37, 10A-1-8.01, 10A-1-8.02, 10A-1-8.03, 0A-1-9.21, 10A-1-9.22, 10A-5A-1.02, 10A-5A-1.06, 10A-9A-1.07, 10A-17-1.02 am'd.

Summary

HB472 repeals the old Alabama Partnership Act and replaces it with a new, unified Alabama Partnership Law (Chapter 8A) that covers formation, governance, and dissolution for partnerships and related entities operating in Alabama, including foreign and limited liability forms.

What This Bill Does

It creates a comprehensive framework (Chapter 8A) with Articles on formation, governance, authority, transfers, dissociation, winding up, mergers, conversions, and limited liability partnerships. It repeals the old Chapter 8 and several related sections and adds conforming changes across business entities law. It applies the new procedures to both domestic and foreign partnerships, LLPs, LLCs, and their foreign counterparts that function in Alabama, and establishes name reservation, registered agent/office requirements, and filing fees. The act takes effect January 1, 2018, with transition rules for existing relationships.

Who It Affects

• Partners and members of domestic and foreign partnerships, LLPs, and limited liability partnerships (including LLCs and their partnerships) operating in Alabama, who will be governed by new rights, duties, distributions, liability rules, and winding-up procedures.
• Foreign entities (foreign partnerships, foreign LLPs, and foreign LLCs) that transact business in Alabama, who must register, maintain a registered agent and office, follow new filing rules, and may face revocation or withdrawal processes and associated fees.

Key Provisions

• Establishment of a new Chapter 8A, the Alabama Partnership Law, providing a unified framework for partnerships, LLPs, LLCs, and their foreign counterparts, including definitions, formation, governance, authority, transfers, dissociation, wind-up, mergers, and conversions.
• Repeal and replacement of the old Alabama Partnership Act provisions (including Chapter 8 of Title 10A and related sections), with transition rules and an effective date of January 1, 2018 for the new regime, plus updated name reservation, registered agent/office requirements, and filing and fee provisions.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Business Entities