A new bill will go into effect Jan. 1, 2013 that may leave some businesses dissolved if they do not take action to be reinstated.
The new law says that businesses that have been administratively dissolved for more than five years will loose their good standing and will not be allowed to be reinstated.
The bill applies to limited liability companies, corporations, nonprofit corporations and limited cooperative associations.
According to Secretary of State John Gale, the law helps combat business identity theft, a growing national problem. "Limiting the time for reinstatement removes business entities that have long stopped operating in the state and keeps them from being reinstated by someone else for criminal purposes."
Gale said all business entities in Nebraska should review their status with his office and reinstate when appropriate before the expiration of five years. "For some businesses, those that were dissolved in 2007 and before but are still operating will essentially be wiped off the books if they have not taken the appropriate steps to reinstate prior to the January 1 deadline," said Gale. Between 2002 and 2007, approximately 18,000 businesses in Nebraska have been dissolved.
If the reinstatement is granted, the business entity can resume its activities as if the dissolution or revocation had not occurred.
The status of a business can be checked for free by logging onto the Secretary of State's website. Look Under "Quick Links" on the main page for "Corporate & Business Search".
If the status of your business is inactive, call the Business Services Division of the Secretary of State's office at 402-471-4079 or send an email to email@example.com to request the appropriate forms to reinstate.