The proposed bill seeks to invalidate the articles of incorporation for cooperative associations, nonprofit corporations, and both foreign and in-state business corporations, as well as filings for unincorporated associations and clubs, if they include the name or address of a non-existent person or one not affiliated with the entity. It establishes that such invalid filings will be classified as a misdemeanor and mandates the Secretary of State to remove the registration or filing upon proof of invalidity. Key amendments include new subsections that define invalid filings and outline penalties for individuals who submit them, shifting the authority for various filing processes from the public regulation commission to the Secretary of State.

Additionally, the bill amends existing laws regarding articles of amendment and applications for certificates of authority, specifying that these documents are invalid if they list non-affiliated individuals or addresses. It requires the Secretary of State to revoke registrations and certificates upon proof of invalidity, with individuals facing misdemeanor charges for filing such documents. The bill also outlines requirements for corporations applying for a certificate of authority, including a certificate of good standing and a statement from the registered agent. The provisions of this act are set to take effect on July 1, 2025.

Statutes affected:
introduced version: 53-4-6, 53-8-32, 53-10-1, 53-11-11, 53-11-13, 53-12-3, 53-13-5, 53-17-6