Plain English Breakdown
The bill does not provide details on the consequences of missing the new filing deadline or how it will affect existing regulations and practices.
Changing Filing Dates for Professional Corporations
This bill changes the deadline from January 1 to January 15 for professional corporations to submit an annual statement of qualification.
What This Bill Does
- Changes the filing deadline from January 1 to January 15 for domestic and foreign professional corporations in Tennessee.
- Requires these changes under Titles 4, 39, 47, 48, 62, and 63 of the Tennessee Code Annotated.
Who It Names or Affects
- Professional corporations operating in Tennessee
- Licensing authorities responsible for reviewing professional service qualifications
Terms To Know
- professional corporation
- A business entity that provides professional services and is incorporated under state law.
- licensing authority
- An organization or agency responsible for issuing licenses to professionals in specific fields.
Limits and Unknowns
- The bill does not specify the consequences of missing the new filing deadline.
- It is unclear how this change will affect existing regulations and practices.