Implement Fraudulent Filings Group Recommendations

The bill implements the legislative recommendations of the fraudulent filings working group as identified in the working group's February 2023 report.

Section 4 of the bill implements recommendation one, which , on and after July 1, 2025, requires a registered agent who is an individual and not a business entity to hold a valid Colorado driver's license , or state identification , or otherwise verify the individual's residency status . Section 4 also implements recommendation 2, which requires a registered agent that is a business entity to be in good standing in the Colorado business registry. Sections 1 and 4 implement recommendation 3, which prohibits a registered agent from using a United States or commercial post office box as the registered agent's address. Sections 3, 5, and 6 implement recommendation 4, which authorizes the secretary of state to change an 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. Section 3 also implements recommendation 5, which allows a law enforcement agency to initiate a fraudulent filing complaint. Section 7 implements recommendation 6, which allows an entity that has been delinquent for 5 years or longer to cure its delinquency only after the filing of an affidavit and photographic identification in addition to the already required statement. Section 8 implements recommendation 7, which allows an entity that has been dissolved for 2 years or longer to be reinstated only after the filing of an affidavit and photographic identification in addition to the already required articles of reinstatement. Section 2 implements recommendation 8, which simplifies the perjury statement affirmed by all persons when delivering a document to be filed with the secretary of state. 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.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)