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 enable LLCs to file a termination certificate if they cease using an alternate name prior to the expiration of the registration period, provided they are not operating as residential landlords, who must wait until the five-year period concludes to file for termination.

The bill also outlines the requirements for the termination certificate, which must include the name of the LLC, the alternate name, and any other identifying information specified by the filing office. Additionally, it amends the fee structure associated with the registration and termination of alternate names, establishing a $50 fee for filing both the registration and termination certificates. This change aims to streamline the process for LLCs while maintaining regulatory oversight.

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