This bill amends the New Jersey Revised Uniform Limited Liability Company Act to allow limited liability companies (LLCs) to terminate an alternate name before the expiration of the five-year registration period. Previously, LLCs were not permitted to terminate an alternate name prior to this expiration, creating a disparity between the treatment of corporations and LLCs. The new provisions enable LLCs to file a termination certificate if they cease using an alternate name, thereby aligning their regulations with those applicable to corporations.

The bill also includes specific legal language changes, such as the insertion of requirements for the termination certificate, which must state the name of the LLC, the alternate name being terminated, and the cessation of its use. Additionally, it establishes a fee structure for filing the termination certificate, similar to the fees for registering and renewing alternate names. Overall, this legislation aims to streamline the process for LLCs regarding the use and termination of alternate names, ensuring consistency with corporate regulations.

Statutes affected:
Introduced: 42:2C-9, 42:2C-93