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 early, which created 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 prior to the end of the registration period, thereby aligning the regulations for LLCs 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 date the LLC ceased using that name. Additionally, it establishes a fee structure for filing the termination certificate, similar to the fees associated with the registration and renewal of 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