MI SB0558

Extends the deadline for LLCs to file overdue annual statements and fees from 60 days to 90 days after administrator notification to avoid loss of good standing status.

Extends the deadline for low-profit LLCs to file a certificate of amendment to conform their name to legal requirements from 60 days to 90 days after ceasing to meet low-profit LLC requirements.

LLCs that fail to file required annual statements for 2 consecutive years must receive notice from the administrator of consequences before losing good standing status.

LLCs that lose good standing status cannot obtain a certificate of good standing, their company name becomes available for use by other entities, and the administrator cannot accept most filings except for restoration certificates.

LLCs that are not in good standing may file a certificate of restoration of good standing by submitting all overdue annual statements, applicable fees for missed years, and the restoration filing fee.