Secretary Of State Proposes Rule Changes / AB 657 Set For First Hearing

Pursuant to Corporations Code § 1502, every corporation organized under the California General Corporation Law must file a Statement of Information with the Secretary of State within 90 days after filing of its initial Articles of Incorporation. Thereafter, the corporation must file a Statement of Information during the “applicable filing period”. The “applicable filing period” is the calendar month during which the initial Articles of Incorporation were filed and the immediately preceding five calendar months. Most corporations can file the required statement online.

Last week, the Secretary of State’s office proposed to amend its regulations so that a business will receive an uncertified electronic copy of its filed Statement of Information when filing a Statement of Information online. According to the Secretary of State, “The proposed regulatory change also moves existing copy fees to a separate new regulation and clarifies and standardizes terms used within the section”.

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