Analysis

Synopsis:

 Senate Bill 202 (SB 202) amends sections of Corporations to require businesses to register alternate business entity names.

Analysis:

 Senate Bill 202 (SB 202) amends sections of Corporations to require businesses to register alternate business entity names.

Changes SB 202 throughout to delete commission and insert secretary of state. SB 202 amends various sections of Corporations to require a corporation provide the name under which the corporation proposes to transact business in New Mexico, as follows:

SECTION 1. Amends Corporations Section 53-8-7 NMSA 1978 (being Laws 1975, Chapter 217, Section 7) CORPORATE NAME.--The corporate name and, if different, the name under which the corporation proposes to transact business in New Mexico shall not:

SECTION 2. Amends Section 53-8-66 NMSA 1978 (being Laws 1975, Chapter 217, Section 66): CORPORATE NAME OF FOREIGN CORPORATION.--No certificate of authority shall be issued to a foreign corporation unless the corporate name of the corporation and, if different, the name under which it proposes to transact business in New Mexico:

SECTION 3. Amends Section 53-12-2 NMSA 1978 (being Laws 1967, Chapter 81, Section 50, as amended) ARTICLES OF INCORPORATION.-- A. The articles of incorporation shall set forth: (1) the name of the corporation and, if different, the name under which it proposes to transact business in New Mexico;

SECTION 4. Amends Section 53-17-3 NMSA 1978 (being Laws 1967, Chapter 81, Section 105, as amended) CORPORATE NAME OF FOREIGN CORPORATION.-- A. No certificate of authority shall be issued to a foreign corporation unless the corporate name of the corporation and, if different, the name under which it proposes to transact business in New Mexico:

SECTION 5. Amends Section 53-19-3 NMSA 1978 (being Laws 1993, Chapter 280, Section 3, as amended) NAME.-- A. The name of a limited liability company and, if different, the name under which it proposes to transact business in New Mexico shall be stated in its articles of organization and shall contain the words "limited liability company" or "limited company" or the abbreviation "L.L.C.", "LLC", "L.C." or "LC". The word "limited" may be abbreviated as "ltd." and the word "company" may be abbreviated as “co.".

SECTION 6. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2021.

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