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IN SB0180
Bill
AI Summary
SB 180 Summary
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Amends Indiana's Uniform Business Organizations Code to clarify that "interest" includes governance interests and distributional economic interests in unincorporated entities, effective retroactively to January 1, 2018.
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Allows persons to correct inaccurate or defectively signed filed records by delivering articles of correction to the Secretary of State, with corrections generally effective as of the original filing date.
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Expands reinstatement periods from 2 years to 5 years for both domestically dissolved entities and foreign entities with revoked registrations to apply for reinstatement with the Secretary of State.
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Eliminates filing fees for electronic cancellations of assumed business names while establishing separate fee schedules for non-electronic filings ($20-$30 for for-profit entities, $10-$26 for nonprofits).
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Makes technical corrections to provisions governing foreign entity registration, merger procedures, entity name requirements, and biennial report filing to align terminology and cross-references throughout the code.
Legislative Description
Uniform business organizations. Makes various technical amendments to the Uniform Business Organizations Code and Uniform Business Organization Transactions Act, including changes in provisions concerning information to be submitted in filings with the secretary of state, use of business names, registration of foreign entities, and administrative dissolution. Allows an entity that has had its registration revoked to apply to the secretary of state for reinstatement not later than five years after the date of revocation. Allows a domestic entity that has been administratively dissolved to apply to the secretary of state for reinstatement not later than five years after the date
Last Action
Public Law 52
3/13/2018