Bill No.: HB0023                  Drafter:  LGC

LSO No.:  10LSO-0198              Effective Date:  7/1/2010

Enrolled Act No.:  HEA0034

Chapter No.:

Prime Sponsor:     Representative Brown

Catch Title:       Business entities-reinstatement fees.

Subject:            Limiting reinstatement fees upon administrative dissolution of business entities.

Summary/Major Elements:

· Under current law, when a business entity wishes to be reinstated following an administrative dissolution, the entity must pay double the amount of fees and taxes then delinquent.

· The act removes the requirement of double payment and allows reinstatement on payment of the amount of fees and taxes then delinquent.

· The act specifies that the amendment to the limited liability company statutes is not effective if 2010 Senate File 18 (recodification of the limited liability company laws) is enacted.  2010 Senate File 18 contains a similar change in the recodified section.