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S.F. No. 1476 - Secretary of State Business Fees and Filings
 
Author: Senator Melisa Franzen
 
Prepared By:
 
Date: March 16, 2015



 

Section 1 amends the filing fee for federal tax liens and other federal liens to eliminate the $15 fee for each additional name beyond two debtors.

Section 2 amends filing requirements for a foreign corporation whose certificate of authority to do business is revoked or cancelled. Instead of filing an application for reinstatement, a foreign corporation could reinstate its authority by filing an annual renewal and the required fee. If information in the original application has changed, an amended certificate must be filed.

Sections 3 to 5 amend filing requirements applicable to public benefit corporations

Section 3 requires a public benefit corporation to file a report before April 1, rather than no later than 90 days after conclusion of each calendar year.

Section 4 amends the effect of a failure to file an annual benefit report, consistent with the date changes in section 3.

Section 5 amends the effect of revocation and reinstatement by a public benefit corporation to add a reference to termination of status. The public benefit corporation must amend its articles to reflect a name change that complies with the general business corporation law and does not include the public benefit corporation designation.

Section 6 provides that the duration of a corporation that has public benefit status terminated or revoked and fails to file the change of name automatically expires 30 days after termination or revocation.

Section 7 modifies procedures governing inquiries regarding farm product liens and financing statements maintained by the secretary of state. A reference to oral inquiries is changed to online inquiries, which may be submitted at any time. The secretary of state must make a prompt response to the inquiry. References to filing office are changed to the secretary of state, consistent with the definition under current law.

 
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