SB 720 - This act creates and amends various provisions regulating to limited liability companies and partnerships.LIMITED LIABILITY COMPANIES - INFORMATION STATEMENTS
(SECTION 347.044, 347.179, 347.183)
Every limited liability company (LLC) and foreign limited liability company (foreign LLC) is required to file an information statement with the Secretary of State (SOS) once every 5 years, accompanied by a fee of $15, or $5 if filed electronically. The SOS is permitted to administratively cancel the articles of incorporation of an LLC or the registration of a foreign LLC for failure to timely file an information statement. The act provides procedures for allowing a foreign LLC to apply to the SOS to have its registration reinstated following such a cancellation. Procedures are also created allowing an LLC to apply for reinstatement following the erroneous or accidental filing of a notice of winding up or notice of termination.
FILING FEES
(SECTIONS 347.179, 347.183, 358.460, and 358.470)
The act reduces various filing fees imposed on LLC's and partnerships for filing certain documents with the SOS and provides for reduced fees for filing certain documents in an electronic format. Additionally, the act requires a fee of $95 for filing a withdrawal of an erroneously or accidentally filed notice of winding up or articles of termination.
This act is identical to certain provisions in HCS/SS#2/SB 704 (2020), substantially similar to HCS/HB 1590 (2020), and similar to SCS/SB 285 (2019) and HB 555 (2019).
SCOTT SVAGERA