CTA UPDATE: CAI’s pursuit of a preliminary injunction to postpone the deadline for POAs to comply with the Corporate Transparency Act has been denied.

What does this mean for me as a board member? Subject to certain limited exceptions, this means that all POAs will continue to have to comply with the CTA and report their “beneficial owner” information. For POAs, beneficial owners are the board of directors.

The deadline to file for POAs formed before January 1, 2024, remains January 1, 2025.

POAs should work with their management companies and/or legal counsel to ensure the filing process is done correctly. For more details on what POAs and their board members are required to report, please click this link.

The Beginner’s Guide to the Texas Legislative Process
By Clint Brown

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