Bill > H2797

This bill modernizes the process for registering trade names, which are essentially assumed names under which businesses operate. For individuals, sole proprietorships, and general partnerships, the bill clarifies that they must file a certificate with the city or town clerk where their business is located, detailing the assumed name and their true names and addresses. This certificate will be valid for four years and must be renewed. For business entities like corporations, limited partnerships, and limited liability companies (LLCs), which are already registered with the Secretary of State, they must now apply to the Secretary of State to use an assumed name. This application will require the entity's registered name, the proposed assumed name (which must be unique), and the address of their principal office. The Secretary of State will issue a certificate of registration for these assumed trade names. The bill also mandates that both the Secretary of State and city/town clerks maintain an index of all active trade name registrations and that copies of these certificates be available to the public. Failure to comply with these registration requirements can result in a fine of up to $300 per month for each month the violation continues.