Baton Rouge & New Orleans Business Litigation Lawyers Kean Miller LLP Home
View Recent Blog Posts in Business and Corporate
- FinCEN Issues Guidance on the Corporate Transparency Act Last month, the Financial Crimes Enforcement Network ("FinCEN") published proposed regulations to implement the Corporate Transparency Act ("CTA"), which was enacted into law on January 1, 2021. The CTA is designed to help prevent the use of anonymous shell companies in money laundering and other illicit activities by requiring U.S. companies to report personally identifiable... Continue Reading...
- Louisiana Department of Revenue Announces A Transfer Pricing Managed Audit Program On October 28, 2021, the Louisiana Department of Revenue (the "Department") publicly announced a transfer pricing managed audit program in Revenue Information Bulletin No. 21-029 (October 26, 2021). Louisiana's program is similar to managed audit programs recently introduced in other states, such as Indiana and North Carolina. However, unlike some other states, Louisiana's managed audit... Continue Reading...
- The Ball's In Their Court Now: NCAA's NIL Policy Provides Trademark Opportunities for College Athletes In the United States, name, image, and likeness ("NIL") are the three elements that make up a legal concept known as the right of publicity. The right of publicity is an intellectual property right that protects against the misappropriation of a person's name, likeness, or other forms of personal identity—such as nickname, pseudonym, voice, signature,... Continue Reading...
- It Pays to go to College: NCAA Allows College Athletes to Profit from their Name, Image, and Likeness Effective today, July 1, the NCAA has officially suspended the organization's rules prohibiting athletes from selling the rights to their names, images, and likenesses ("NIL"). Despite the NCAA's longstanding principles that payments to athletes while attending college would undermine amateurism of college athletics, the organization's Division I board of directors decided Wednesday that it would... Continue Reading...
- Designated Responsible Engineers The practice of engineering is regulated through licensure in all states. Whether and under what conditions a state will allow engineers to practice through limited liability entities ("LLEs") (e.g., corporations, limited liability companies, and limited liability partnerships) varies from state to state: Some states do not regulate engineering LLEs at all. Some states do not... Continue Reading...
- U.S. Supreme Court Gives Good News to Secured Lenders, Tempered with Words of Caution The U.S. Supreme Court offered some good news to secured lenders last week, tempered with words of caution. In Chicago v. Fulton, the Court held that a secured creditor does not violate Section 362(a)(3) of the Bankruptcy Code by merely continuing to hold property of its debtor after that debtor files a bankruptcy petition. The... Continue Reading...
- New Changes to Louisiana's Corporate Laws Give Increased Flexibility to Business Corporations On October 16, 2020, Governor John Bel Edwards signed into law Senate Bill 33 amending the Louisiana Business Corporation Act (LBCA) in several areas. Remote Shareholder Meetings (La. R.S. 12:1-709) The new law, which became Act No. 3 of the 2020 Second Extraordinary Session, allows for meetings of shareholders to be held solely by means... Continue Reading...
- Additional Guidance Impacting PPP Loan Forgiveness On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). On April 24, 2020, the President signed the Paycheck Protection Program and Health Care Enhancement Act which provided additional funding. On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020 (the "Flexibility... Continue Reading...
- SBA Updates its FAQ Regarding Good Faith Certification The Small Business Administration ("SBA") issued an update to its "Frequently Asked Questions for Lenders and Borrowers for the Paycheck Protection Program," adding question #46 and the response, which is recited below. For PPP loans of less than $2 million, the borrower will be "deemed to have made the required certification concerning the necessity of... Continue Reading...
- Eligible Self-Employed Individuals under the CARES Act In addition to certain entities, independent contractors, sole proprietors and "eligible self-employed individuals" may be eligible to apply for a Paycheck Protection Program loan under the CARES Act. What is an eligible self-employed individual? It is important to note that the statute did not refer to "self-employed individuals" which would have been very easy for... Continue Reading...
