Additional Legislation

Secretary Grayson is working on legislation to provide uniformity among the various statutes related to entity creation.  He introduced two bills in the previous General Assembly sessions that will allow consistent statutory language to be applied for incorporations, LLC's, and partnerships. 

The current language discrepancies create needless confusion, making it difficult for individuals trying to start businesses.  By cleaning up this language and making it more straightforward for constituents, this legislation fosters an amicable atmosphere for people to create and conduct business.  This improvement is essential for the expansion and growth of Kentucky businesses!

One item pending before the legislature is part of Secretary Grayson’s Business Enhancement initiative and that is to provide uniformity in filing procedures among the various statutes related to entity creation.  He introduced this bill in the 2006 Regular Session.  The proposed legislation will clean up inconsistencies in filing procedures for various entities including incorporations, LLCs and partnerships.  This will help make it easier for both professionals and lay persons to proceed with getting businesses registered with our office and up and running.

Also, as part of the Business Enhancement initiative, Secretary Grayson will pursue updates to Kentucky’s Business Corporation Act.  Several new recommendations have been released by National Conference of Commissioners on Uniform State Laws (NCCUSL), including definitional updates that could be included in KRS 271B – Kentucky’s primary business statute. 

Another enhancement is the complete overhaul of Kentucky’s notary statutes.  Unfortunately Kentucky has not kept pace with other states updates to basic notary provisions.  Creating uniform notary provisions will place Kentucky on the cutting edge.  These new provisions will provide the legal framework for our office to finalize our Electronic Notary project.  The Electronic Notary project allows notaries to create and manage notarial acts electronically and in real time.  This huge leap will allow industry, government agencies and individuals to create or use electronic document management systems that incorporate notary authentication, record keeping and certificate downloads – all in real time.