This bill amends the Code of West Virginia to enhance the regulatory framework surrounding annual business fees. It empowers the Secretary of State to impose a bad check fee of up to $5, in addition to any fees from financial institutions, for returned or dishonored payments. The bill also allows the Secretary of State to waive late fees under certain circumstances, particularly when the delinquency is due to factors beyond the filer's control. Furthermore, it mandates that any solicitation for annual report filing must include clear disclosures to prevent misleading practices, with penalties for noncompliance.

In addition to these provisions, the bill introduces a new logotype for veteran-owned businesses, which the Secretary of State is required to develop and make available within specified timeframes. It clarifies definitions of various business entities and outlines the requirements for filing annual reports, including necessary information and submission deadlines. The bill also includes a provision that allows individuals harmed by violations of specific regulations to recover damages amounting to three times the solicited amount, along with court costs and attorney fees. Overall, the legislation aims to streamline business processes while providing additional support for veteran-owned enterprises.

Statutes affected:
Introduced Version: 59-1-2a