Bretton Crane

Nov 18, 2024 | mondaq.com | Brett Crane |Bretton Crane

The Corporate Transparency Act (the "Act") requires the filing of information about the beneficial ownership of companies that are subject to this new law. Reports are required to be filed with the Financial Crimes Enforcement Network of the Treasury Department ("FinCEN"). As the scope of the Act is quite broad, it is likely that many small and family owned business entities are subject to its provisions and must file reports by the end of 2024 (or earlier for newly formed businesses).

Dec 12, 2023 | mondaq.com | Brett Crane |Bretton Crane

Effective November 1, 2023, many Oklahoma non-profit entities are subject to new requirements that may have far-reaching and unexpected effects. This little known new law requires that many Oklahoma based religious, charitable and educational non-profits give notice to the Oklahoma Attorney General forty-five days prior to certain events or transactions. These provisions create a new level of scrutiny to certain transactions by charities that is not applicable to private business in Oklahoma.

Dec 11, 2023 | mondaq.com | Bretton Crane |Brett Crane |Will Jones |Kevin Doyle

Representation and Warranty Insurance May Enhance Acquisition Transactions Once reserved for only very large transactions, recent changes in the insurance markets have made representation and warranty insurance policies (RWI) more available for merger and acquisition transactions involving smaller dollar amounts.

Dec 10, 2023 | mondaq.com | Brett Crane |Bretton Crane

The Corporate Transparency Act (the "Act") was enacted in January 2021 as part of the National Defense Authorization Act for Fiscal Year 2021, in an effort to enable critical national security, intelligence and law enforcement efforts to counter money laundering, financing of terrorism and other illicit activity.