Bill No.:         HB0015                                             Drafter: LGC

LSO No.:       14LSO-0056                                     Effective Date: 7/1/2014

Enrolled Act No.:    HEA0059

Chapter No.:                        CH0081

Prime Sponsor:       Joint Corporations, Elections and Political Subdivisions Interim Committee

Catch Title:              Business entities-enforcement and penalties.

Subject:                     Business entity penalties.

Summary/Major Elements:

· Under current law, the secretary of state may refuse documents for filing if the correct filing fee, any franchise tax, license fee or penalty is not paid.

· This bill extends the authority to refuse filing of documents if past due fees, taxes or penalties are not paid up.

· This bill also authorizes administrative dissolution if a business entity has failed to pay any penalty assessed by the secretary of state.