SENATE COMMERCE COMMITTEE

STATEMENT TO

SENATE, No. 1395

with committee amendments

STATE OF NEW JERSEY

DATED:  FEBRUARY 12, 2026

      The Senate Commerce Committee reports favorably and with committee amendments Senate Bill No. 1395.

      The New Jersey Business Corporation Act allows a corporation to terminate an alternate name prior to the expiration date of the five-year registration period.  The New Jersey Revised Uniform Limited Liability Company Act does not allow a limited liability company to terminate an alternate name prior to the expiration date of the five-year registration period.  The difference in treatment between corporations and limited liability companies is rectified in this bill.

      As amended, the bill amends the New Jersey Revised Uniform Limited Liability Company Act to allow a limited liability company to terminate an alternate name prior to the expiration date of the five-year registration period.  However, the bill provides that a limited liability company operating as a residential landlord cannot terminate an alternate name prior to the expiration date of the five-year registration period.  The termination certificate to be filed is to include, among other items, the name of the limited liability company, the alternate name, and any other identifying information for the filing office.

      As amended, the bill makes certain updates to the statutory law to reflect the transition of duties from the filing office and the Secretary of State to the State Treasurer.

      This bill was pre-filed for introduction in the 2026-2027 session pending technical review.  As reported, the bill includes the changes required by technical review, which has been performed.

COMMITTEE AMENDMENTS:

      The committee amended the bill to change certain references from the filing office and the Secretary of State to the State Treasurer due to a transition of certain duties.