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MS HB683
Bill
Status
Passed
4/16/2010
Primary Sponsor
Cecil Brown
Click for details
AI Summary
- Replaces the existing Mississippi Limited Liability Company Act with a comprehensive "Revised Mississippi Limited Liability Company Act" governing formation, management, dissolution, and internal affairs of LLCs
- Creates the "Elections Support Fund" in the State Treasury, funded by annual report fees from foreign LLCs ($250 annually), with 50% distributed to counties for voting equipment and election administration and 50% to the Secretary of State for maintaining the Statewide Elections Management System
- Establishes new requirements for LLCs including annual reports to the Secretary of State, registered agents for service of process, and detailed provisions for member rights, manager duties, and operating agreements
- Provides procedures for administrative dissolution of domestic LLCs and administrative revocation of foreign LLC registrations for failure to pay fees, file reports, or maintain a registered agent, with reinstatement options
- Sets filing fees including $50 for certificate of formation, $250 for foreign LLC registration, and various fees for amendments and other filings, with the act taking effect January 1, 2011
Legislative Description
Limited liability companies; require annual reports and revise fees.
Last Action
Approved by Governor
4/16/2010
Full Bill Text
No bill text available