Rokita Applauds Passage of Bill Easing Online Business Filings
Contact: AJ Freeney-Ruiz
Indianapolis, IN - Indiana Secretary of State Todd Rokita commended the Indiana General Assembly for passing legislation which will assist businesses when they file entity reports online through the Secretary of State's website.
Proposed by Secretary Rokita, House Enacted Act 1165 further simplifies for business owners the process of filing business entity reports. The new law now allows a business entity report to be signed by a registered agent, certified public accountant, or attorney employed by the business where before only corporate officers could sign.
A business entity report, which provides up-to-date information about a business, must be filed every year for non-profit businesses and every two years for for-profit businesses. The Secretary of State's online system allows customers to quickly and easily file their reports online, which is more cost effective and efficient for the state as well as for the customer than filing via paper. Between ten thousand and twelve thousand reports are due each month.
The new law is designed to facilitate business owners using the online option by expanding the list of individuals authorized to sign entity reports.
The bill also provides the following:
- Allows more businesses to convert to different entity types, making Indiana's Business Corporation Law more reflective of the way business is done in the state and making it easier for out of state businesses to move to Indiana
- Sets forth requirements for certain business entities, for instance a limited partnership and a limited liability company, to merge
- Permits notice of a shareholders' meeting to be transmitted by any class of United States mail if notice of the meeting is posted on the company's web site at least thirty days before the meeting is scheduled to take place
"Our goal with this legislation is to lessen the financial and time burdens on Hoosier business owners and provide them with a technologically sound and efficient alternative to filing the required reports," Rokita said. "Our goal has always been to provide service on our customers' schedules, and by expanding the options firms have in completing entity documents, we are doing just that."
Rokita thanked Representatives Luke Messer, author of HEA 1165, Dave Crooks and Bill Davis and Senate sponsors David Long and John Broden for their efforts to pass legislation assisting Indiana businesses.
The electronic database and filing system, one of Secretary Rokita's priorities for the Business Service Division, is one component of a larger modernization project which involves scanning millions of legacy documents for eventual online use.
To file a report online, visit the Secretary's website at http://www.in.gov/sos/business/