House Bill 1553, also known as Senate Bill 1639, amends certain provisions of the Tennessee Code Annotated related to nonprofit entities. Specifically, it modifies Section 48-51-303(a) by deleting the previous subdivision (21) and substituting it with a new provision that states there will be no fee for the articles of termination of corporation existence. Additionally, Section 48-101-506(h) is amended to require any person who ceases solicitation activities after registration to notify the secretary of state within ninety days and to file the necessary financial documentation.

The bill is set to take effect on July 1, 2026, emphasizing the importance of compliance for nonprofit entities in Tennessee regarding their solicitation activities and the termination of their corporate existence. These changes aim to streamline processes and ensure proper notification and documentation are maintained by nonprofits.

Statutes affected:
Introduced: 48-51-303(a), 48-51-303, 48-101-506(h), 48-101-506