This bill amends the New Jersey Revised Uniform Limited Liability Company Act to allow limited liability companies (LLCs) to terminate an alternate name registration before the end of the five-year period. Previously, LLCs were not permitted to do so, creating a disparity between the treatment of corporations and LLCs. The new provisions specify that while LLCs can file a termination certificate to cease using an alternate name, those operating as residential landlords must wait until the five-year registration period expires to file such a certificate. The termination certificate must include the name of the LLC, the alternate name, and any other identifying information required by the filing office.

Additionally, the bill updates the registration process for alternate names, allowing for the renewal of registrations for successive five-year periods and establishing a fee structure for filing certificates of registration, renewal, and termination. The amendments also clarify that the registration of an alternate name does not grant any rights against prior or subsequent uses of the name and outlines penalties for false statements or omissions in the registration process. Overall, the bill aims to streamline the process for LLCs while maintaining certain restrictions for residential landlords.

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