SB 399 — AN ACT CONCERNING THE UNIFORM PROTECTED SERIES ACT.

General Assembly   RaisedSubstitute Bill No.

399 February Session, 2018   LCO*_____SB00399JUD___032918____* No.AN ACT CONCERNING THE UNIFORM PROTECTED SERIES ACT.

365   *00365_______JUD* Referred to Committee on JUDICIARY   Introduced by:

  (JUD)   AN ACT CONCERNING THE UNIFORM PROTECTED SERIES ACT.

(B) Relations amongbetween the protected series and:

(b) A certificate issued under subsection (a) of this section shall state:

(B) That the requirements of subsection (a) of this section are met;

(b) The failure of a limited liability company or a protected series to observe a formality relating to the exercise of its powers or management of its activities and affairs is not a ground to disregard a limitation in subsection (a) of section 20 of this actact, but may be a ground to disregard a limitation in subsection (b) of section 20 of this act.

(NEW) (Effective October 1, 2018) (a) InAs used in this section:

(2) The claimant is a resident of this state or doing business or registered to do business in this state, or the claim under section 23 of this actsection is to enforce a judgment, or to seek a prejudgment remedy, pertaining to a liability arising under law of this state other than sections 1 to 42, inclusive, of this act or an act or omission in this state;

(NEW) (Effective October 1, 2018) (1)As "Afterused ain merger"this orsection "afterand thesections merger"28 meansto when34, ainclusive, merger under section 30 of this actact: becomes effective and afterwards.

(1) "After a merger" or "after the merger" means when a merger under section 30 of this act becomes effective and afterwards.

(1)(i) Is or is proposed to be in a record;

and (2)(ii) Is necessary or appropriate to state the rights and obligations of the person as a member of the surviving company.

(c) The name of a foreign protected series applying for registration or registered to do business in this state shall comply with section 10 of this act and may do so using an alternate name adopted pursuant to section 34-274e34-275e of the general statutes, if the name complies with section 10 of this act.

(b) If a foreign series limited liability company or foreign protected series challenges the personal jurisdiction of the tribunal, the requirement that the foreign company or foreign protected series make a disclosure under subsection (a) of this section is tolled until the tribunal determines whether it has personal jurisdiction.

45 October 1, 2018 34-275 Statement of Purpose:Legislative Commissioners:

ToIn adoptSections the23(e)(2), Uniform27 Protectedand Series37(c), Act.section references were corrected or added for accuracy.

[ProposedJUD deletionsJoint areFavorable enclosedSubst. in brackets.

Proposed-LCO additions  are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]