HCS SB 308 -- NOT-FOR-PROFIT CORPORATIONS

SPONSOR:  Purgason (Pollock)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Judiciary by a vote of 13 to 0.

This substitute allows a not-for-profit corporation to apply for
reinstatement if it had been forfeited after 1978 for failure to
file an annual report.

If a corporation is administratively dissolved for failure to
file an annual registration report and the Secretary of State
determines that the failure was due to military service, the
substitute authorizes the Secretary of State to waive the
reinstatement fees and other associated penalties, cancel the
certificate of dissolution, prepare a certificate of
reinstatement, and provide a copy to the corporation.

FISCAL NOTE:  No impact on state funds in FY 2006, FY 2007, and
FY 2008.

PROPONENTS:  Supporters say that the bill allows the Secretary of
State to reinstate a not-for-profit organization if they didn't
file an annual report.

Testifying for the bill were Representative Pollock on behalf of
Senator Purgason; Missouri Bankers Association; and Office of the
Secretary of State.

OPPONENTS:  There was no opposition voiced to the committee.

Amy Woods, Senior Legislative Analyst

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:21 pm