RELATING TO PENAL LIABILITY FOR BUSINESS ENTITIES.

Requires a court to order the charter of a corporation forfeited and the certificate authorizing a foreign corporation to do business in the State revoked upon a felony or misdemeanor conviction of the corporation or its high managerial agent that is related to its business affairs. Repeals the requirement for findings for a court to order forfeiture of a charter or revocation of a certificate. Requires similar penalties for various partnership entities and limited liability companies and their foreign counterparts convicted of a felony or misdemeanor. Permits the winding up of the business.