This bill amends various sections of South Dakota law to update the fees collected by the Secretary of State for filing different types of documents. Key changes include the establishment of specific fees for filing articles of incorporation, annual reports, and other related documents. For instance, the fee for filing articles of incorporation is set at one hundred fifty dollars, while the annual report fee is established at fifty-five dollars. Additionally, penalties for entities that fail to file their annual reports on time are also specified, with a fee of fifty-five dollars imposed in addition to the annual report filing fee.

The bill also introduces provisions regarding the allocation of certain fees to a financing statement and annual report filing fee fund, ensuring that a portion of the collected fees is designated for this purpose. For example, three dollars from each effective financing statement filed and six dollars from each annual report filed (except for nonprofits) will be deposited into this fund. Furthermore, any excess funds in this fee fund at the end of the fiscal year, beyond fifty thousand dollars, will revert to the general fund. Overall, the bill aims to streamline the fee structure and ensure proper funding for the administration of these filings.

Statutes affected:
Introduced, 01/08/2025: 47-1A-122, 47-20-7, 47-28-6, 47-34A-212, 48-7A-1208, 57A-9-528, 57A-9-529
Enrolled, 03/03/2025: 47-1A-122, 47-20-7, 47-28-6, 47-34A-212, 48-7A-1208, 57A-9-528, 57A-9-529