Public Act No. 24-111 Summary

• Requires business entities (corporations, LLCs, partnerships, trusts) to provide valid electronic mail addresses and North American Industry Classification System (NAICS) codes in formation and annual report filings effective January 1, 2025.

• Shifts administrative dissolution and revocation notices from first-class mail to electronic mail, improving efficiency and ensuring faster notification to business entities.

• Creates new trade name certificate system administered by town clerks with 5-year validity periods, replacing the previous statewide registration system for businesses operating under assumed names.

• Establishes registered agent requirements including residency for natural persons and "good standing" status for business entities, with validation authority for the Secretary of State to prevent fraudulent submissions.

• Prohibits unauthorized inclusion of names and addresses in filings with penalties up to class D felony for intentional violations, strengthening data security and privacy protections.