Bill Text: WV HB4266 | 2022 | Regular Session | Comm Sub

West Virginia House Bill 4266 (Prior Session Legislation)

Bill Title: Relating to limited liability companies

Spectrum: Partisan Bill (Republican 11-0)

Status: (Introduced - Dead) 2022-01-27 - To House Judiciary [HB4266 Detail]

Download: West_Virginia-2022-HB4266-Comm_Sub.html

WEST virginia legislature

2022 regular session

Committee Substitute

for

House Bill 4266

By Delegates Reed, Ward, B., Forsht, Barrett, Mandt, Hanna, Mallow, Hardy, Worrell, Booth and Clark

[Originating in the Committee on Government Organization; January 24, 2022]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §31B-1-115, relating to requiring persons, companies, or other entities, that charge fees for services to limited liability companies to file an annual report on behalf of a limited liability company, include a notice that contains certain requirements; and creating criminal penalties.

Be it enacted by the Legislature of West Virginia:

Article 31B. General Provisions.

§31B-1-115. Fees for annual report filings may be paid online; notice required.

(a) Any person, company, or other legal entity must provide the notice described in subsection (b) of this section if the person, company, or other legal entity:

(1) Claims to be authorized to file the annual report on behalf of a limited liability company pursuant §31B-1-108 and §59-1-2a of this code; and,

(2) Charges a fee for the service of filing the annual report.

(b) Any person, company, or other legal entity must notify a limited liability company prior to accepting any form of payment. Notice shall be made by providing a limited liability company a disclaimer in 36-point Times New Roman font on bright pink 8”x11” paper or in similar fashion when delivered electronically. The notice must contain:

(1) The website address of the West Virginia Secretary of State’s office;

(2) The following sentence: “The legal filing fee may be paid online and the fee to file the annual report is $25 pursuant to §59-1-2a of West Virginia Code”; and,

(3) A veteran owned business or an active duty member owned business in §59-1-2a of this code is exempt from paying the annual report fee for the first four years after its initial registration.

(c) Any person, company, or other legal entity that fails to provide the notice required in subsection (b) of this section may be guilty of a misdemeanor and fined up to $1,000.