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2017 Regular Session
At the request of: (at the request of Secretary of State Jeanne P. Atkins)
Chief Sponsors:
Regular Sponsors:
Bill Title: Relating to the administration of laws that regulate business entities; prescribing an effective date.
Catchline/Summary: Specifies that principal office of business entity incorporated or organized in this state or authorized to transact business in this state must have physical street address that may not be commercial mail receiving agency, mail forwarding business or virtual office.
Authorizes Secretary of State to investigate alleged or potential violations of business entity statutes and require business entity to provide list of shareholders, directors, members and other persons and respond to interrogatories in course of investigation or in response to request from law enforcement agency. Permits Secretary of State to impose penalties or seek dissolution of business entity that violates statutes or fails to cooperate with investigation. Permits Department of Revenue to recommend dissolution of business entity that fails to comply with tax laws of state. Subjects directors, officers, employees, members and managers of business entity to claim for damages from person that suffers ascertainable loss of money or property resulting from knowing dissemination of materially false statement concerning certain aspects of business entity's finances and operations. Permits Attorney General to bring action to enjoin business entity from continuing violation of business entity statutes or to seek judicial dissolution or other relief necessary to protect shareholders or remedy consequences of violation. Becomes operative on January 1, 2018. Takes effect on 91st day after adjournment sine die. .
Chapter Number:
Fiscal Impact: May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact: May Have Revenue Impact, But No Statement Yet Issued
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: In House Committee
Current Committee: House Committee On Business and Labor
Current Subcommittee:
Subsequent Referral(s):
Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
Measure History
Scheduled Events