Plain English Breakdown
The bill did not pass, so it is uncertain if the provisions will be implemented.
Changes to Registered Agents' Duties
The bill modifies the duties of registered agents for corporations, partnerships, and associations by requiring them to keep a list of all owners' names.
What This Bill Does
- Adds new requirements for registered agents to maintain information about entity owners.
- Requires registered agents to have up-to-date owner details within 60 days of any change.
- Specifies exceptions where the requirement does not apply, such as entities with over 100 owners or those that operate from a fixed location in Wyoming.
Who It Names or Affects
- Registered agents of corporations, partnerships, and associations
Terms To Know
- registered agent
- A person or company designated to receive legal documents on behalf of a business entity.
- entity owners
- People who have ownership stakes in corporations, partnerships, and associations.
Limits and Unknowns
- The bill did not pass during the session.
- It is unclear how many entities will be affected by these changes.