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Assembly Commerce and Economic Development Committee Statement to [Second Reprint] Senate, No. 1395, Dated June 4, 2026

Summary

Statement of the Assembly Commerce and Economic Development Committee of the State of New Jersey, dated June 4, 2026, reporting Senate Bill 1395 (Second Reprint) favorably. The bill amends the New Jersey Revised Uniform Limited Liability Company Act so a limited liability company may terminate an alternate name before the five-year registration period expires, as the New Jersey Business Corporation Act already allows corporations to do. A limited liability company operating as a residential landlord may not do so. The bill also updates statutory law to reflect the transfer of duties from the filing office and the Secretary of State to the State Treasurer. It is identical to Assembly Bill 4955.

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Full text

ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT
                COMMITTEE

                         STATEMENT TO

                          [Second Reprint]
                       SENATE, No. 1395

       STATE OF NEW JERSEY
                            DATED: JUNE 4, 2026

          The Assembly Commerce and Economic Development Committee
      reports favorably Senate Bill No. 1395 (2R).
          As reported, the bill makes changes to 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. However, the bill provides that
      a limited liability company operating as a residential landlord
      cannot 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 State Treasurer. The bill also makes certain
      updates to the statutory law to reflect the transition of duties from
      the filing office and the Secretary of State to the State Treasurer.
          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.
          As reported by the committee, Senate Bill No. 1395 (2R) is
      identical to Assembly Bill No. 4955, as that bill was amended and
      reported by the committee on this date.

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