House Bill 1403 Summary

• Amends the Mississippi Entity Conversion and Domestication Act to revise procedures for foreign entities becoming domestic entities in Mississippi.

• Extends the document correction period from 60 days to 120 days after filing with the Secretary of State.

• Requires foreign entities converting to domestic entities to first domesticate to Mississippi under Article 5 and provide filed conversion documents from their jurisdiction of formation as attachments.

• Requires foreign entities domesticating to Mississippi to provide copies of filed domestication documents from the new jurisdiction and a certificate of good standing from their original jurisdiction (issued within 180 days) as attachments.

• Prohibits charitable organizations as defined in Mississippi Code Section 79-11-501 et seq. from converting under Article 4 of this chapter, effective July 1, 2017.