Bill Summary for S 362 (2019-2020)

Summary date: 

Apr 18 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 362 (Public) Filed Tuesday, March 26, 2019
AN ACT REVISING THE LAWS GOVERNING THE SUBMISSION OF ANNUAL REPORTS BY VARIOUS ENTITIES TO THE SECRETARY OF STATE.
Intro. by Wells, Perry.

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Bill summary

Senate committee substitute to the 1st edition makes the following changes. 

Amends proposed GS 55A-16-22.1(h) to now deem a domestic or foreign corporation to have filed the required annual report if (1) the corporation is a charitable organization or sponsor licensed under GS Chapter 131F, Article 2; (2) the corporation applies for the license electronically in a form prescribed by the Secretary and provides additional information in that application required for the annual report; and (3) the corporation is licensed on the annual report due date (previously only required the corporation to be licensed a charitable organization or sponsor under Article 2 of GS Chapter 131F). 

Amends GS 59-110 to require that in order to avoid revocation of registration, the limited partnership or foreign limited partnership must correct each ground for revocation or demonstrated to the Secretary of State's satisfaction (was, reasonable satisfaction) that each ground does not exist. Adds that the procedures for reinstatement and for the appeal of any denial of the limited partnership's application for reinstatement are the same as those under GS 55-14-24 (in addition to those under GS 55-14-22 and GS 55-14-23). Adds the requirement that any penalties, fees, or other payments due under GS Chapter 59 must be paid before reinstatement. 

Makes additional clarifying and technical changes. 

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