Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Business And Financial Institutions topic
No spam. Unsubscribe anytime.
Committee advances bill giving Secretary of State more time to return refused filings
Summary
Senate Bill 2420, sponsored by Sen. Harkin, would extend the period the Secretary of State has to return a refused corporate filing from 10 days to 30 days; the committee approved the measure on a voice vote.
A state Senate committee advanced Senate Bill 2420 on a voice vote. The measure, described to the committee by the chair as Senator Harkin’s bill, would change the period the Secretary of State has to return a refused document to a domestic or foreign corporation from 10 days to 30 days.
The chair said the change applies to examples such as LLC filings and is intended to give the Secretary of State more time to review parties involved in a filing and guard against fraud. "It just gives the secretary of state more time to get the refusal back to the corporation and gives him more time to study the parties involved to make sure there's not any fraud," the chair said.
No committee member asked for substantive changes during the brief presentation, and the committee adopted the bill on a voice vote. The transcript records the motion and a voice "ayes have it" announcement but does not include a roll-call tally.
The bill text cited two line references during the presentation (line 60 and line 112) where the return period would change; the transcript did not include the full bill text or any fiscal notes in committee.
