Business entity forced dissolution for fraud.

Summary

The bill lets the secretary of state administratively dissolve corporations, LLCs, statutory foundations, and foreign entities, or revoke their authority, if they provide false information to their registered agent or have a board member convicted of fraud. It also applies when the entity is owned or controlled by a foreign adversary not cleared by the U.S. Committee on Foreign Investment. The measure is intended to protect the public from deceptive or hostile businesses.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share