Limited liability companies; prepayment of annual registration fees.

Limited liability companies; prepayment of annual registration fees. Permits domestic and foreign limited liabilitycompanies to prepay annual registration fees for two or three years.Under the bill, a domestic or foreign limited liability company mustmake the election to prepay its annual registration fees before itsannual registration fee would otherwise be due and seek approvalfrom the State Corporation Commission to engage in prepayment fortwo or three years. The bill provides that such optional prepaymentdoes not apply to the initial annual registration fees assessed againsta limited liability company that is newly formed or recently convertedfrom another entity. The bill requires that, if applicable, the Commissionprovide notice of this prepayment option to a foreign or domesticlimited liability company that has failed to pay its annual registrationfee as a method of avoiding future delinquencies.