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2022 SESSION

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HB 309 Limited liability companies; prepayment of annual registration fees.

Introduced by: Sam Rasoul | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Limited liability companies; online prepayment of annual registration fees. Authorizes the State Corporation Commission to establish a process for online prepayment of annual registration fees whereby a domestic or foreign limited liability company may prepay its annual registration fees for two or three years.

SUMMARY AS PASSED HOUSE:

Limited liability companies; online prepayment of annual registration fees. Authorizes the State Corporation Commission to establish a process for online prepayment of annual registration fees whereby a domestic or foreign limited liability company may prepay its annual registration fees for two or three years.

SUMMARY AS INTRODUCED:

Limited liability companies; prepayment of annual registration fees. Permits domestic and foreign limited liability companies to prepay annual registration fees for two or three years. Under the bill, a domestic or foreign limited liability company must make the election to prepay its annual registration fees before its annual registration fee would otherwise be due and seek approval from the State Corporation Commission to engage in prepayment for two or three years. The bill provides that such optional prepayment does not apply to the initial annual registration fees assessed against a limited liability company that is newly formed or recently converted from another entity. The bill requires that, if applicable, the Commission provide notice of this prepayment option to a foreign or domestic limited liability company that has failed to pay its annual registration fee as a method of avoiding future delinquencies.