Bill > S3689

This bill allows certain limited liability companies (LLCs) to terminate the use of an alternate business name before the end of the standard five-year registration period, with a key exception for residential landlords. Under current law, LLCs must maintain an alternate name registration for the full five-year term, but this bill now permits early termination by filing a termination certificate with the state. The bill specifically states that LLCs operating as residential landlords must wait until the full five-year registration period expires before filing such a termination certificate. To file the termination, the LLC must provide its name, the alternate name being terminated, and confirm it has ceased using that alternate name. The bill also establishes a $50 filing fee for the termination certificate. This change provides more flexibility for LLCs in managing their business names while maintaining some regulatory oversight, particularly for residential rental businesses. The modification is an amendment to existing New Jersey state law governing limited liability companies, specifically updating Section 9 of P.L.2012, c.50.

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https://www.njleg.state.nj.us/bill-search/2024/S3689