2/17/17 — CSEA is proud to inform Members about recent advocacy successes with the Secretary of State’s office.
Statement of Information Filings
CSEA’s quest to increase notification of the SOS Statement of Information filing requirement continues to result in great changes at the SOS. Along with more prominent links on the website, SOS is updating the Welcome letters sent to new business entities. Click here for the new Welcome letter for LLCs. You’ll see the letter notifies new entities of their filing requirements and lists the Statement of Information at the top! This is one more positive step SOS has taken to increase compliance with the filing as a result of CSEA’s advocacy.
Another issue CSEA has advocated for in the legislature is for the state to establish an administrative dissolution process for inactive business entities that either never got off the ground or just stopped operating without filing the required paperwork.
A bill CSEA supported in the legislature, Assembly Bill 557 by Assemblywoman Irwin in 2015, was signed by Governor Brown. Click here to read CSEA’s letter to the Governor. Now SOS and FTB are establishing the process to automatically dissolve business entities that have not been active for at least 48 months. At 48 months the entity will receive a notice that the business will automatically dissolve and the entity has 60 days to respond to intervene. If no response, the business is automatically dissolved without going through the revivor process. Though AB 557 only applies to non-profit entities, we hope that once this process is up and running successfully for non-profits it can be applied to other entities too.