General Regulatory Provisions -- Filing Of Assumed Name
Impact
The passage of S2645 is significant as it modifies the state’s regulatory framework concerning business name filings. By mandating the inclusion of email addresses along with the names of those responsible for the business, the bill fosters a heightened level of accountability among business operators. This change is expected to facilitate communication between state authorities and business owners, as well as among consumers and business practitioners, thus contributing to better business practices in the state.
Summary
Bill S2645, known as the 'General Regulatory Provisions -- Filing Of Assumed Name', aims to amend existing requirements for individuals conducting business under an assumed name in Rhode Island. Under the proposed law, business owners will be required to file a certificate with the local town or city clerk that includes the assumed business name alongside the true names and email addresses of the individuals conducting the business. This requirement is intended to enhance business transparency and accountability, ensuring that members of the public are informed about who is operating under a business name that may not reflect the owner's actual identity.
Sentiment
The sentiment surrounding S2645 appears to be largely positive, with support from legislators who emphasize the need for increased transparency in business operations. The unanimous voting record, indicating 70 yeas and no nays during its passage, reflects widespread agreement on the importance of ensuring that businesses are accessible and accountable to their customers and the public. The law is viewed as a proactive approach to modernize business regulations in Rhode Island.
Contention
While the bill was passed without opposition, potential points of contention could arise from the implementation of these new filing requirements. Business owners may express concerns regarding the additional administrative burden placed on them, particularly small businesses that may find the requirement for more detailed filings challenging. Furthermore, the requirement to provide personal email addresses could lead to privacy concerns among business owners, who might be apprehensive about their contact information being publicly accessible through local government records.
Changes the term "assumed name" to "trade name" and centralizes the filing, administration and regulation process of trade names to the secretary of state and requires an annual renewal of the trade name.
Changes the term "assumed name" to "trade name" and centralizes the filing, administration and regulation process of trade names to the secretary of state and also requires an annual renewal of the trade name.