HB 24-1137

Abstract

The act implements the legislative recommendations of the fraudulent filings working group as identified in the working group's February 2023 report. These recommendations make the following changes: On and after July 1, 2025, a registered agent who is an individual and not a business entity is required to hold a valid Colorado driver's license, state identification, or otherwise verify the individual's residency status; A registered agent that is a business entity is required to be in good standing in the Colorado business registry; A registered agent is prohibited from using a United States or commercial post office box as the registered agent's address; The secretary of state is authorized to change a business entity's status to delinquent in the business registry immediately following a finding or concession that the entity was created or registered without authorization or for fraudulent purposes; A law enforcement agency is allowed to initiate a fraudulent filing complaint regarding a business entity; A business entity that has been delinquent for 5 years or longer can cure its delinquency only after the filing of an affidavit and photographic identification in addition to the already required statement; A business entity that has been dissolved for 2 years or longer can be reinstated only after the filing of an affidavit and photographic identification in addition to the already required articles of reinstatement; and The perjury statement affirmed by all persons when delivering a document to be filed with the secretary of state is simplified. For the 2024-25 state fiscal year, $464,310 is appropriated from the department of state cash fund to the department of state for use by the business and licensing division and the information technology division for personal services and operating expenses. APPROVED by Governor June 3, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)