SB481 Alabama 2015 Session

Under existing law, only corporations, limited liability partnerships, and professional associations are required to file any annual reports to stay active

This bill would require all filing entities and foreign filing entities to file an annual report to assist the state in determining which filing entities and foreign filing entities are active and which may need to be cancelled or revoked through an administrative dissolution process

This bill would allow the Secretary of State, after proper notice, to administratively dissolve entities which are no longer active and have not complied with filing an annual report

Existing law also provides a schedule of fees for annual reports for corporations, limited liability partnerships, and professional associations

This bill would make the fee schedule consistent between those business entities

Relating to business entities; to amend Sections 10A-1-4.31, 10A-2-16.22, and 10A-8-10.01, Code of Alabama 1975, to require all filing entities and foreign filing entities to file an annual report to assist the state in determining which filing entities and foreign filing entities are active and which may need to be cancelled or revoked through an administrative dissolution process; to add Division F to Article 3, Chapter 1, Title 10A, Code of Alabama 1975; to allow the Secretary of State to administratively dissolve entities which are no longer active and have not complied with filing an annual report; to require notice prior to dissolution of the business entity; to provide for a fee schedule that is consistent between the certain business entities; and to make technical changes.