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Senate Commerce Committee Statement to Senate, No. 3689 (February 10, 2025)

Summary

Senate Commerce Committee statement to Senate on Senate Bill No. 3689, dated February 10, 2025, reporting the bill favorably with committee amendments. The statement says the New Jersey Business Corporation Act lets a corporation terminate an alternate name before the five-year registration period ends, while the New Jersey Revised Uniform Limited Liability Company Act does not. The bill amends the latter act to give limited liability companies the same ability, with a termination certificate naming the company, the alternate name and other identifying information. The committee amendment lets the filing office require that other information.

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Cite this document

“Senate Commerce Committee Statement to Senate, No. 3689 (February 10, 2025).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2025-02-10-scm-s3689-s1-614ba93a73/, SHA-256 533d88f4e0e024920d0d93d52d5d930f48bae0e4672899e4dfeccb2f254002a9.

Full text

     SENATE COMMERCE COMMITTEE

                   STATEMENT TO

                 SENATE, No. 3689
                  with committee amendments



 STATE OF NEW JERSEY
                  DATED: FEBRUARY 10, 2025

    The Senate Commerce Committee reports favorably and with
committee amendments Senate Bill No. 3689.
    As amended, the New Jersey Business Corporation Act allows a
corporation to terminate an alternate name prior to the expiration
date of the five-year registration period. The New Jersey Revised
Uniform Limited Liability Company Act does not allow a limited
liability company to terminate an alternate name prior to the
expiration date of the five-year registration period. The difference
in treatment between corporations and limited liability companies is
rectified in this bill. The bill amends the New Jersey Revised
Uniform Limited Liability Company Act to allow a limited liability
company to terminate an alternate name prior to the expiration date
of the five-year registration period. The termination certificate to
be filed is to include, among other items, the name of the limited
liability company, the alternate name, and any other identifying
information for the filing office.

COMMITTEE AMENDMENTS:
    The committee amended the bill to authorize the filing office to
require other identifying information on an alternative name
termination certificate filed by a limited liability company.

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