Senate Bill 1639, also known as House Bill 1553, 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 remove the existing subsection and replace it with a requirement that any person who ceases solicitation activities after registration must notify the secretary of state within ninety days and file the necessary financial documentation.

The bill is set to take effect on July 1, 2026, emphasizing the importance of timely communication and compliance for nonprofit entities regarding their solicitation activities and termination processes. These changes aim to streamline the administrative requirements for nonprofits in Tennessee, ensuring clarity and efficiency in their operations.

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