AR SB513

Nonprofit corporations, limited liability partnerships, and limited partnerships must file annual disclosure statements by August 1 each year with the Secretary of State, reporting entity name, jurisdiction of incorporation, registered agent information, principal office address, and officer and director names.

Entities failing to file annual disclosure statements by January 31 are proclaimed delinquent and their charter or authority to do business declared not current by the Secretary of State.

Delinquent entities can be reinstated within five years by filing disclosure statements for the previous four delinquent years, with reinstatement retroactive to the original delinquency date.

After five years of non-compliance, entities are statutorily dissolved and their names become immediately available for use by other entities if deemed available by the Secretary of State.

Annual report filing deadlines for limited partnerships are changed from between January 1 and May 1 to by August 1 of each year.