Relating to the contents of an assumed name certificate filed by certain businesses or professionals.
The passage of SB 699 is expected to streamline the processes associated with business registration in Texas. By establishing clear and uniform requirements for assumed name certificates, the bill aims to eliminate ambiguities and assist in better compliance among businesses. Furthermore, it allows consumers and other professionals to easily verify the legitimacy of businesses operating under assumed names, potentially reducing instances of fraud and misrepresentation in the marketplace.
Senate Bill 699, introduced in Texas, addresses the contents required in an assumed name certificate that businesses and professionals must file. The bill amends Section 71.102 of the Business & Commerce Code to specify the details that must be included in such certificates, enhancing transparency regarding the operations of various entities conducting business under assumed names. This includes mandated declarations of the type of registrant, their operational period under the assumed name, and detailed location information regarding where services will be rendered.
During discussions surrounding SB 699, there were few notable points of contention. The bill enjoyed broad support, passing through legislative votes with a significant majority (134 yeas to 0 nays). However, some arguments were raised concerning the administrative burden it might place on small businesses that may have to adapt to the new requirements. Critics suggested that more comprehensive support should be provided to educate small business owners about the changes to avoid confusion during implementation.