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House advances bill to standardize business registrations, give Secretary of State new authority
Summary
The Vermont House moved H.243 forward after floor debate and committee amendments that would harmonize business filing statutes, give the Secretary of State limited authority to reject or amend fraudulent filings, and create a study of the state's online filing system and fees.
The Vermont House on Wednesday advanced H.243, an act relating to the regulation of business organizations that would harmonize statutes governing corporations, associations and other business forms, broaden administrative authority in the Secretary of State's business services division, and require a study of the state's online filing system and fees.
Representative Cooper, member from Pauno, who spoke for the Committee on Commerce and Economic Development, said the bill "adds administrative authority of 2 kinds" to the Secretary of State and aims to prevent fraudulent business filings. The bill updates terminology across Titles 11, 11A, 11B and 11C and proposes a new section allowing the Secretary of State to reject records containing "false, fraudulent, or clearly erroneous information," or to amend or terminate registrations after notice and a hearing…
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