S.F. _____ Section 1. Section 547.1, Code 2023, is amended to read as 1 follows: 2 547.1 Use of trade name —— verified statement required. 3 A person shall not engage in or conduct a business under a 4 trade name, or an assumed name of a character other than the 5 true surname of each person owning or having an interest in 6 the business, unless the person first records with the county 7 recorder of the county in which the business is to be conducted 8 files with the secretary of state a verified statement showing 9 the name, post office address, and residence address of each 10 person owning or having an interest in the business, and the 11 address where the business is to be conducted. However, 12 this provision does not apply to any person organized or 13 incorporated in this state as a domestic entity or authorized 14 to do business in this state as a foreign entity if the person 15 is a limited partnership under chapter 488 ; a limited liability 16 company under chapter 489 ; a corporation under chapter 490 ; a 17 professional corporation under chapter 496C ; a cooperative or 18 cooperative association under chapter 497 , 498 , 499 , 501 , or 19 501A ; or a nonprofit corporation under chapter 504 . 20 EXPLANATION 21 The inclusion of this explanation does not constitute agreement with 22 the explanation’s substance by the members of the general assembly. 23 This bill relates to business filings of trade names. 24 The bill provides that a person doing business under a trade 25 name in the state shall first file a verified statement showing 26 the name, post office address, residence address, and business 27 address of each person owning or having an interest in the 28 business with the secretary of state. Current law provides 29 that this information must be recorded with the local county 30 recorder. The bill also removes several exemptions relating 31 to filing, including that the person is a limited partnership, 32 limited liability company, corporation, professional 33 corporation, cooperative or cooperative association, or a 34 nonprofit corporation. 35 -1- LSB 1797XC (1) 90 es/rn 1/ 1