Tennessee 2025-2026 Regular Session

Tennessee Senate Bill SB1639

Caption

AN ACT to amend Tennessee Code Annotated, Title 48, relative to nonprofit entities.

Impact

Another critical amendment outlined in SB1639 pertains to the notification requirements for nonprofit organizations that cease solicitation activities. Under the new provisions, organizations will be required to notify the Secretary of State within 90 days following the cessation of solicitation activities. This change aims to promote transparency and accountability among nonprofit entities operating within Tennessee, ensuring that the state has updated records of active and inactive organizations.

Summary

SB1639 is a legislative act aimed at amending the Tennessee Code Annotated, particularly concerning nonprofit entities. One significant change proposed in the bill is the adjustment of the current regulations related to the termination of corporate existence. The bill seeks to eliminate fees associated with the articles of termination, which could streamline the process for organizations wishing to dissolve legally without incurring additional financial burdens.

Contention

While the bill generally aims to simplify regulations for nonprofits, there may be points of contention regarding how these changes are implemented and enforced. Stakeholders in the nonprofit sector could have varying opinions on the necessity of the notification requirement, especially concerning the administrative burden it may impose on smaller organizations. The amendment that removes the termination fee may also prompt discussions regarding the financial viability of nonprofits and their capacity to manage compliance efficiently.

Companion Bills

TN HB1553

Crossfiled AN ACT to amend Tennessee Code Annotated, Title 48, relative to nonprofit entities.

Previously Filed As

TN HB1553

AN ACT to amend Tennessee Code Annotated, Title 48, relative to nonprofit entities.

TN HB2019

AN ACT to amend Tennessee Code Annotated, Title 48, Chapter 64, relative to judicial dissolution of nonprofit corporations.

TN SB1711

AN ACT to amend Tennessee Code Annotated, Title 48, Chapter 64, relative to judicial dissolution of nonprofit corporations.

TN HB1884

AN ACT to amend Tennessee Code Annotated, Title 4; Title 8; Title 48 and Title 67, relative to corporate entities.

TN SB1956

AN ACT to amend Tennessee Code Annotated, Title 4; Title 8; Title 48 and Title 67, relative to corporate entities.

TN SB0037

AN ACT to amend Tennessee Code Annotated, Title 48, relative to annual report fees.

TN HB2181

AN ACT to amend Tennessee Code Annotated, Title 4; Title 10, Chapter 7; Title 35; Title 48 and Title 50, relative to nonprofit organizations.

TN SB2261

AN ACT to amend Tennessee Code Annotated, Title 4; Title 10, Chapter 7; Title 35; Title 48 and Title 50, relative to nonprofit organizations.

TN HB1242

AN ACT to amend Tennessee Code Annotated, Title 47, Chapter 18 and Title 56, relative to 340B entities.

TN SB1414

AN ACT to amend Tennessee Code Annotated, Title 47, Chapter 18 and Title 56, relative to 340B entities.

Similar Bills

No similar bills found.