House Bill No. 241
Introduced By _______________________________________________________________________________
A Bill for an Act entitled: "An Act requiring an annual report for a nonprofit corporation to contain a statement as to whether or not it is currently tax-exempt under federal law and a statement setting out the percentage of money or funds collected during the previous year expended on administrative costs; and amending section
Be it enacted by the Legislature of the State of Montana:
Section 1. Section 35-2-904, MCA, is amended to read:
"35-2-904. Annual report for secretary of state. (1) Each domestic corporation and each foreign corporation authorized to transact business in this state under this chapter shall deliver to the secretary of state, for filing, an annual report on a form prescribed and furnished by the secretary of state that sets forth:
(a) the name of the corporation and the state or country under whose law it is incorporated;
(b) the address of its registered office and the name of its registered agent at
the that office in this state;
(c) the address of its principal office;
(d) the names and business or residence addresses of its directors and principal officers;
(e) a brief description of the nature of its activities;
(f) whether or not it has members;
(g) whether or not it is currently a tax-exempt corporation under federal law; and
(h) what percentage of the money or funds received during the prior year was expended on its administrative costs.
(2) The information in the annual report must be current on the date that the annual report is executed on behalf of the corporation.
(3) The first annual report must be delivered to the secretary of state between January 1 and April 15 of the year following the calendar year in which a domestic corporation was incorporated or a foreign corporation was authorized to transact business. Subsequent annual reports must be delivered to the secretary of state between January 1 and April 15.
(4) If an annual report does not contain the information required by this section, the secretary of state shall promptly notify
the reporting domestic or foreign corporation in writing and return the report to it for correction. If the report is corrected
contain the information required by this section and delivered to the secretary of state within 30 days after the effective date
of notice, it is considered to be timely filed."