HB641 Summary

• Requires all filing entities and foreign filing entities to file annual reports with the Secretary of State to determine which entities are active and which should be dissolved or revoked.

• Authorizes the Secretary of State to administratively dissolve entities that fail to file annual reports within 180 days after the March 15 deadline, after providing written notice and a 60-day cure period.

• Changes the registered limited liability partnership annual report fee from $100 to $75 for the Secretary of State, maintaining consistency with other business entity fee schedules.

• Establishes an administrative dissolution process where the Secretary of State files a certificate of dissolution and serves notice on the entity, which then may only conduct business necessary to wind up operations.

• Takes effect the first day of the third month following passage and approval by the Governor.