Bill Would Clean Up State’s Business Registry
Anyone who has formed a company in Connecticut knows that the state's business registry lists not only active companies but also inactive or defunct ones, which makes determining the availability of potential business names a challenge.
To help begin the process of cleaning up the business registry, the Judiciary Committee has raised HB 5489, which gives the secretary of the state certain powers to get the job done. The secretary of the state is the authority charged with maintaining the registry and ensuring its integrity.
Under HB 5489, if a company does not file its annual report with the secretary of the state for two consecutive years, the company receives a notice that the state will begin to administratively dissolve the company if it fails to file its annual report within three months.
The purpose is to remove inactive and defunct companies from the registry to make it as accurate and up-to-date as possible.
While HB 5489 has not yet been scheduled for a public hearing, we expect it to be scheduled soon.
For more information, email Eric George.
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