Secretary of State - As enacted, removes the filing fee that must be paid to the secretary of state to file articles of termination of corporation existence; increases the number of days after a person ceases solicitation activities after registration with the secretary of state, from 30 to 90, that the person has to notify the secretary of state; removes the requirement that a charitable organization that ceases solicitation activity and received in excess of $1 million in gross revenue duri...

Summary

The bill removes the fee that nonprofits must pay to the Secretary of State when filing articles of termination. It also lengthens the deadline for charities to inform the Secretary of State that they have stopped solicitation activities from 30 to 90 days, and drops the requirement for large charities to submit audited financial statements with that notice. These changes reduce administrative costs and give organizations more time to comply.

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