MS SB2792

Amends Section 79-11-407 to clarify that nonprofit corporations failing to file timely annual reports or failing to disclose required information may be subject to administrative dissolution penalties.

Requires nonprofit corporations to file annual reports with the Secretary of State by May 15 each year, including information about registered agents, principal officers, business description, and any public funds received from Mississippi state or local government.

Allows the Secretary of State to return incomplete reports for correction within 30 days, with corrected reports deemed timely filed.

Repeals Section 79-11-391 authorizing status reports for nonprofit corporations.

Takes effect July 1, 2025.