The bill seeks to amend Chapter 6-1 of the General Laws by changing its title from "Filing of Assumed Name" to "FILING OF TRADE NAME," indicating a shift in terminology and focus on trade names. It introduces new filing requirements for individuals conducting business under a trade name, effective January 1, 2024. These requirements include submitting an application with detailed information such as the trade name, real names of individuals involved, contact information, business location, and the relevant NAICS code. The trade name must be unique in the registry, and the application must be signed under penalty of perjury. Additionally, the bill requires the secretary of state to maintain an online register of all trade name certificates and establishes a fee structure for filing and issuing letters of status. It also exempts certain entities from these provisions and adds definitions for key terms.
Furthermore, the bill outlines the procedure for notifying the secretary of state about changes in personal or business information related to the trade name. It centralizes the administration of trade name filings with the secretary of state and mandates an annual renewal process. The bill also introduces a pilot project for filing and transferring assumed business name records to the secretary of state's database. The implementation of these changes is set for January 1, 2025. There are no specific or tags provided in the summary, suggesting that the bill's text was not included for review.