SB481 Alabama 2015 Session

Updated Jul 24, 2021

Summary

Primary Sponsor: Vivian Davis FiguresSenator
Democrat
Session: Regular Session 2015
Title: Business entities, administrative dissolution by Secretary of State under certain conditions, fee schedule revised, Sec. 10A-1-3.51 added; Secs. 10A-1-4.31, 10A-2-16.22, 10A-8-10.01 am'd.
Summary: SB481 would require all filing entities and foreign filing entities to file annual reports, empower the Secretary of State to administratively dissolve inactive entities after notice, and standardize annual report fees.
What This Bill Does
It expands annual reporting to all filing entities and foreign filing entities, not just corporations and certain partnerships. It gives the Secretary of State authority to administratively dissolve entities that are no longer active and have not filed annual reports, after proper notice. It standardizes the fee schedule for annual reports and other filings across entity types, with the fees deposited into the Secretary of State Entity Fund (and portions potentially to the State General Fund). It also creates Division F, which sets detailed annual reporting requirements and reinstatement procedures for dissolved entities.

Who It Affects
Filing entities in Alabama (domestic and foreign) must file annual reports and could be administratively dissolved if they do not file.
The Secretary of State and the State of Alabama gain authority to collect, manage, and allocate fees and to dissolve entities that fail to file.

Key Provisions
All filing entities and foreign filing entities must deliver an annual report with specified information (name, registered office and agent, principal office, business description, and other required data).
The first annual report is due between January 1 and March 15 of the year after the entity was formed or authorized to transact business; subsequent reports follow the same schedule.
If an annual report is not filed within 180 days after the final due date, the Secretary of State may administratively dissolve the entity, with notice and a formal dissolution process.
If dissolution occurs, the entity may wind up its affairs and may apply for reinstatement within two years, subject to requirements such as a Department of Revenue compliance certificate and payment of a reinstatement fee.
The bill standardizes fee schedules for filings across entity types and directs fees into the Secretary of State Entity Fund (with portions possibly deposited into the State General Fund).
Division F codifies the new annual reporting requirements and reinstatement procedures for dissolved entities and adjusts related provisions in other titles.
The act becomes effective on the first day of the third month after it passes and is approved.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Business Entities