2003 Legislation
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HOUSE BILL NO. 314 – Corporate annual rpt/electrnc filng

HOUSE BILL NO. 314

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Daily Data Tracking History



H0314......................................................by STATE AFFAIRS
CORPORATE ANNUAL REPORTS - FILING - Amends existing law to authorize the
Secretary of State to develop and implement a method of filing corporate
annual reports electronically; and to delete a requirement for reinstating
a limited liability partnership.
                                                                        
02/28    House intro - 1st rdg - to printing
03/03    Rpt prt - to St Aff
03/05    Rpt out - rec d/p - to 2nd rdg
03/06    2nd rdg - to 3rd rdg
03/11    3rd rdg - PASSED - 69-0-1
      AYES -- Andersen, Barraclough, Barrett, Bauer, Bedke, Bell, Bieter,
      Black, Block, Boe, Bolz, Bradford, Campbell, Cannon, Clark, Collins,
      Cuddy, Deal, Denney, Douglas, Eberle, Edmunson, Ellsworth, Eskridge,
      Field(18), Field(23), Gagner, Garrett, Harwood, Henbest, Jaquet,
      Jones, Kellogg, Kulczyk, Lake, Langford, Langhorst(Wallace),
      Martinez, McGeachin, McKague, Meyer, Miller, Mitchell, Moyle,
      Naccarato, Nielsen, Raybould, Ridinger, Ring, Ringo, Roberts,
      Robison, Rydalch, Sali, Sayler, Schaefer, Shepherd, Shirley, Skippen,
      Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Tilman, Trail,
      Wills, Wood, Mr. Speaker
      NAYS -- None
      Absent and excused -- Crow
    Floor Sponsor - Ellsworth
    Title apvd - to Senate
03/12    Senate intro - 1st rdg - to St Aff
03/19    Rpt out - rec d/p - to 2nd rdg
03/20    2nd rdg - to 3rd rdg
03/24    3rd rdg - PASSED - 32-0-3
      AYES -- Andreason, Bailey, Brandt, Bunderson, Burkett, Burtenshaw,
      Cameron, Compton, Darrington, Gannon, Geddes, Goedde, Hill, Ingram,
      Kennedy, Keough, Little, Lodge, Malepeai, Marley, McKenzie,
      McWilliams, Noble, Noh, Pearce, Richardson, Schroeder, Sorensen,
      Stegner, Stennett, Sweet, Werk
      NAYS -- None
      Absent and excused -- Calabretta, Davis, Williams
    Floor Sponsor - Little
    Title apvd - to House
03/25    To enrol
03/26    Rpt enrol - Sp signed
03/27    Pres signed
03/28    To Governor
04/02    Governor signed
         Session Law Chapter 207
         Effective: 07/01/03

Bill Text


                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-seventh Legislature                 First Regular Session - 2003
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 314
                                                                        
                                 BY STATE AFFAIRS COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO THE ELECTRONIC FILING OF ANNUAL  REPORTS  WITH  THE  SECRETARY  OF
  3        STATE;  AMENDING SECTION 30-1-1622, IDAHO CODE, TO AUTHORIZE THE SECRETARY
  4        OF STATE TO DEVELOP AND IMPLEMENT A  METHOD  OF  FILING  CORPORATE  ANNUAL
  5        REPORTS ELECTRONICALLY AND TO CORRECT A CODIFIER'S ERROR; AMENDING SECTION
  6        30-3-136,  IDAHO  CODE, TO AUTHORIZE THE SECRETARY OF STATE TO DEVELOP AND
  7        IMPLEMENT A METHOD OF FILING CORPORATE ANNUAL REPORTS  ELECTRONICALLY  AND
  8        TO  CORRECT  A  CODIFIER'S  ERROR; AMENDING SECTION 53-613, IDAHO CODE, TO
  9        AUTHORIZE THE SECRETARY OF STATE TO DEVELOP AND IMPLEMENT A METHOD OF FIL-
 10        ING CORPORATE ANNUAL REPORTS ELECTRONICALLY; AMENDING  SECTION  53-3-1003,
 11        IDAHO CODE, TO AUTHORIZE THE SECRETARY OF STATE TO DEVELOP AND IMPLEMENT A
 12        METHOD  OF  FILING  CORPORATE  ANNUAL REPORTS ELECTRONICALLY; AND AMENDING
 13        SECTION 53-3-1003A, IDAHO CODE, TO DELETE A REQUIREMENT FOR REINSTATING  A
 14        LIMITED LIABILITY PARTNERSHIP.
                                                                        
 15    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
 16        SECTION 1.  That Section 30-1-1622, Idaho Code, be, and the same is hereby
 17    amended to read as follows:
                                                                        
 18        30-1-1622.  ANNUAL REPORT FOR SECRETARY OF STATE. (1) Each domestic corpo-
 19    ration,  and  each foreign corporation authorized to transact business in this
 20    state, shall deliver to the secretary of state for filing an annual report  on
 21    a form provided by the secretary of state that sets forth:
 22        (a)  The  name of the corporation and the state or country under whose law
 23        it is incorporated;
 24        (b)  The address of its registered office and the name of  its  registered
 25        agent at that office in this state;
 26        (c)  The address to which correspondence to the corporation's officers may
 27        be mailed; and
 28        (d)  The  names  and business addresses of its directors and its president
 29        and secretary.
 30        (2)  Information in the annual report must be current as of the  date  the
 31    annual report is executed on behalf of the corporation.
 32        (3)  The annual report shall be executed by one (1) of the persons identi-
 33    fied  in  section 30-1-120, Idaho Code, or by another person who is authorized
 34    by the board of directors to execute the  report.   Execution  of  the  annual
 35    report constitutes a representation that the person is authorized by the board
 36    of directors to execute the report.
 37        (4)  No annual report need be filed during the first year after a corpora-
 38    tion  is  incorporated  or  authorized to transact business in this state. The
 39    first, and all subsequent annual reports shall be delivered to  the  secretary
 40    of  state each year before the end of the month during which a domestic corpo-
 41    ration was initially incorporated  or  a  foreign  corporation  was  initially
 42    authorized to transact business.
 43        (5)  If an annual report does not contain the information required by this
                                                                        
                                           2
                                                                        
  1    section,  the  secretary of state shall promptly notify the reporting domestic
  2    or foreign corporation in writing and return the report to it for  correction.
  3    If the report is corrected to contain the information required by this section
  4    and  delivered  to  the  secretary  of state within thirty (30) days after the
  5    effective date of notice, it is deemed to be timely filed.
  6        (6)  The secretary of state may, in his discretion, develop an alternative
  7    electronic method for distributing annual report forms and accepting  complete
  8    and  correct  annual  reports  online. Such electronic forms shall require the
  9    same information provided in subsection (1) of this section. In the absence of
 10    execution, authentication of the annual reports shall  be  accomplished  in  a
 11    manner within the discretion of the secretary of state.
                                                                        
 12        SECTION  2.  That Section 30-3-136, Idaho Code, be, and the same is hereby
 13    amended to read as follows:
                                                                        
 14        30-3-136.  ANNUAL REPORT FOR SECRETARY OF STATE. (1) Each domestic  corpo-
 15    ration,  and  each foreign corporation authorized to transact business in this
 16    state, shall deliver to the secretary of state an annual report on a form pre-
 17    scribed and furnished by the secretary of state.
 18        (2)  The information in the annual report must be current on the date  the
 19    annual report is executed on behalf of the corporation.
 20        (3)  The annual report shall be executed by one (1) of the persons identi-
 21    fied  in section 30-3-2, Idaho Code, or by another person who is authorized by
 22    the board of directors to execute the report. Execution of the  annual  report
 23    constitutes  a  representation  that  the person is authorized by the board of
 24    directors.
 25        (4)  No annual report need be filed during the first year after a corpora-
 26    tion is incorporated or authorized to transact business  in  this  state.  The
 27    first,  and  all subsequent annual reports shall be delivered to the secretary
 28    of state each year before the end of the month during which a domestic  corpo-
 29    ration  was  initially  incorporated  or  a  foreign corporation was initially
 30    authorized to transact business.
 31        (5)  If an annual report does not contain the information required in this
 32    section, the secretary of state shall promptly notify the  reporting  domestic
 33    or  foreign corporation in writing and return the report to it for correction.
 34    If the report is corrected to contain the information required in this section
 35    and delivered to the secretary of state within  thirty  (30)  days  after  the
 36    effective date of notice, it is deemed to be timely filed.
 37        (6)  The secretary of state may, in his discretion, develop an alternative
 38    electronic  method for distributing annual report forms and accepting complete
 39    and correct annual reports online. Such electronic  forms  shall  require  the
 40    same information provided in subsection (1) of this section. In the absence of
 41    execution,  authentication  of  the  annual reports shall be accomplished in a
 42    manner within the discretion of the secretary of state.
                                                                        
 43        SECTION 3.  That Section 53-613, Idaho Code, be, and the  same  is  hereby
 44    amended to read as follows:
                                                                        
 45        53-613.  ANNUAL  REPORT  OF  DOMESTIC AND FOREIGN LIMITED LIABILITY COMPA-
 46    NIES. (1) Each domestic limited liability company, and  each  foreign  limited
 47    liability  company  authorized  to  do  business  in this state, shall file an
 48    annual report setting forth:
 49        (a)  The name of the limited liability company and the  state  or  country
 50        under the laws of which it is organized;
 51        (b)  The address of the registered office of the limited liability company
                                                                        
                                           3
                                                                        
  1        in  this state, and the name of its registered agent in this state at such
  2        address, and the address of its principal office;
  3        (c)  If the management of the limited liability company is vested  in  its
  4        members, the name and address of one (1) or more of the current members of
  5        the limited liability company;
  6        (d)  If  the  management  of  the limited liability company is vested in a
  7        manager  or managers, the name and address of one (1) or more of the  cur-
  8        rent managers of the limited liability company.
  9        (2)  Such  annual  report shall be made on a form prescribed and furnished
 10    by the secretary of state, and the  information  therein  contained  shall  be
 11    given  as of the date of the execution of the report. It shall be executed for
 12    the limited liability company by a person authorized by the members if manage-
 13    ment is vested in the members, or by a person authorized by  the  managers  if
 14    management is vested in the managers. Execution by such a person constitutes a
 15    representation  that  the authority was granted. If the limited liability com-
 16    pany is in the hands of a receiver or trustee, it shall be executed on  behalf
 17    of the limited liability company by such receiver or trustee.
 18        (3)  The  annual report of a domestic or foreign limited liability company
 19    shall be delivered to the secretary of state each year before the end  of  the
 20    month  during  which  a domestic limited liability company was initially orga-
 21    nized, or a foreign limited liability  company  was  initially  authorized  to
 22    transact  business.  Beginning one (1) year after a domestic limited liability
 23    company is organized or a foreign limited liability company is  authorized  to
 24    transact  business, and each year thereafter, the annual report of the limited
 25    liability company must be received in the office of the secretary of state not
 26    later than the close of business on the final day of the applicable month.  If
 27    the  secretary of state finds that such report conforms to the requirements of
 28    this chapter, he shall file the same. If he finds that it does not so conform,
 29    he shall promptly return the same to the limited  liability  company  for  any
 30    necessary corrections.
 31        (4)  The secretary of state may, in his discretion, develop an alternative
 32    electronic  method for distributing annual report forms and accepting complete
 33    and correct annual reports online. Such electronic  forms  shall  require  the
 34    same information provided in subsection (1) of this section. In the absence of
 35    execution,  authentication  of  the  annual reports shall be accomplished in a
 36    manner within the discretion of the secretary of state.
                                                                        
 37        SECTION 4.  That Section 53-3-1003, Idaho Code, be, and the same is hereby
 38    amended to read as follows:
                                                                        
 39        53-3-1003.  ANNUAL REPORT. (a) A limited liability partnership, and a for-
 40    eign limited liability partnership authorized to  transact  business  in  this
 41    state,  shall  file  an  annual report in the office of the secretary of state
 42    which contains:
 43        (1)  The name of the limited liability partnership and the state or  other
 44        jurisdiction under whose laws the foreign limited liability partnership is
 45        formed;
 46        (2)  The  street  address of the partnership's chief executive office and,
 47        if different, the mailing address of an office of the partnership to which
 48        mail may be sent; and
 49        (3)  The name and street address of the partnership's  current  agent  for
 50        service of process.
 51        (b)  An  annual report must be filed between January 1 and  November 30 of
 52    each year following the calendar year in which a partnership files a statement
 53    of qualification or a foreign partnership becomes authorized to transact busi-
                                                                        
                                           4
                                                                        
  1    ness in this state.
  2        (c)  The secretary of state may, in his discretion, develop an alternative
  3    electronic method for distributing annual report forms and accepting  complete
  4    and  correct  annual  reports  online. Such electronic forms shall require the
  5    same information provided in subsection (a) of this section. In the absence of
  6    execution, authentication of the annual reports shall  be  accomplished  in  a
  7    manner within the discretion of the secretary of state.
                                                                        
  8        SECTION  5.  That  Section  53-3-1003A,  Idaho  Code,  be, and the same is
  9    hereby amended to read as follows:
                                                                        
 10        53-3-1003A.  REVOCATION OF STATEMENT OF QUALIFICATION. (a)  The  secretary
 11    of state may revoke the statement of qualification of a partnership that fails
 12    to  file  an annual report when due or to maintain a registered agent for ser-
 13    vice of process in this state.  To do so, the secretary of state shall provide
 14    the partnership at least sixty (60) days' written notice of intent  to  revoke
 15    the statement. The notice must be mailed to the partnership at its chief exec-
 16    utive  office set forth in the last filed statement of qualification or annual
 17    report. The notice must specify the annual report that has not been  filed  or
 18    that the registered agent has resigned or cannot be found, and the prospective
 19    effective  date  of  the  revocation.  The  revocation is not effective if the
 20    annual report or an appointment of registered agent, as appropriate, is  filed
 21    before the effective date of the revocation.
 22        (b)  A  revocation  under  subsection  (a)  of this section only affects a
 23    partnership's status as a limited liability partnership and is not an event of
 24    dissolution of the partnership.
 25        (c)  A partnership whose statement of qualification has been  revoked  may
 26    apply  to  the secretary of state for reinstatement within two (2) years after
 27    the effective date of the revocation. The application must:
 28        (1)  State the name of the partnership and the effective date of the revo-
 29        cation; and
 30        (2)  State that the ground for revocation either did not exist or has been
 31        corrected; and
 32        (3)  Be accompanied by a current annual report or  appointment  of  regis-
 33        tered agent, as appropriate.
 34        (d)  A  reinstatement under subsection (c) of this section relates back to
 35    and takes effect  as  of  the  effective  date  of  the  revocation,  and  the
 36    partnership's  status  as  a limited liability partnership continues as if the
 37    revocation had never occurred.

Statement of Purpose / Fiscal Impact


                      STATEMENT OF PURPOSE
                                
                            RS 13053
                                
The purpose of this legislation is to allow the Secretary of
State to develop and implement a method for filing and accepting annual
reports for corporations, non-profit corporations, limited liability
companies and limited liability partnerships.


                         FISCAL IMPACT
                                
When implemented, and if utilized by entities, electronic filings
should save considerable funds.





Contact
            Name:     Chuck Goodenough
                  Deputy Secretary of State
                  Commercial Division
                  Phone:    208/332-2301
            
      STATEMENT OF PURPOSE/FISCAL NOTE      H 314