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, the bill introduces penalties for entities that fail to file their annual reports on time, imposing an extra fee of fifty-five dollars on top of the regular filing fee.

The bill also specifies that certain fees collected will contribute to the financing statement and annual report filing fee fund, with a portion of the fees from effective financing statements and annual reports being allocated to this fund. Furthermore, it outlines that 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 that the Secretary of State's office can effectively manage the filing process for various business entities.

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