S 1395 — Allows certain limited liability companies to terminate alternate names before end of five-year registration period.

S1395 1R2R [First[Second Reprint] SENATE, No.

  CURRENT VERSION OF TEXT      As reportedamended by the Senate Commerce Committee on February 12,24, 2026,2026. with amendments.

            1.   1.   Section 9 of P.L.2012, c.50 (C.42:2C-9) is amended to read as follows:

          9.   9.   Use of Name Other Than Actual Limited Liability Company Name.

          a.    a.   A domestic limited liability company or foreign limited liability company which conducts activities in this State shall not conduct any of those activities using an alternate name, including an abbreviation of its name or an acronym, unless:

          (1)  (1)  it also uses its actual name in the transaction of any of its activities in a manner that is not deceptive as to its actual identity;

or           (2)  (2)  it has first registered the alternate name as provided in subsection b.

          b.   b.   Any limited liability company may adopt and use any alternate name, including a name which would be unavailable as the name of a domestic or foreign limited liability company because of the prohibitions of subsection a.

of section 8 of [this act] P.L.2012, c.50 (C.42:2C-8), but not including any name not permitted as a limited liability company name by subsection c.

          (1)  (1)  The name, jurisdiction and date of formation of the limited liability company;

          (2)  (2)  The alternate name;

          (3)  (3)  A brief statement of the character or nature of the particular activities to be conducted using the alternate name;

          (4)  (4)  That the limited liability company intends to use the alternate name in this State;

          (5)  (5)  That the limited liability company has not previously used the alternate name in this State in violation of this section or, if it has, the month and year in which it commenced the use.

          c.    c.   The registration shall be effective for five years from the date of filing, unless sooner terminated as provided below, and may be renewed successively for additional five-year periods by filing an original and a copy of the certificate of renewal executed on behalf of the limited liability company any time within 90 days prior to, but not later than, the date of expiration of the registration.

provided, however, that a limited liability company does2[does not operateoperate] that operates2 as a residential landlord. landlord 2[.  A limited liability company that operates as a residential landlordlandlord]2 shall wait2[wait until the expiration of the five-year registration period to file a termination certificate. certificate] not be authorized to do so2.  A termination certificate shall state the name of the limited liability company, the alternate name for which the limited liability company has filed a certificate of registration, that the limited liability company has ceased to use the registered alternate name, and any other identifying information the 1[filing office] State Treasurer1 may specify.  The termination certificate may recite the date upon which the limited liability company ceased to use the alternate name, but no recital shall be required.

          d.   d.   This section shall not:

          (1)  (1)  Grant to the registrant of an alternate name any right in the name as against any prior or subsequent use of the name, regardless of whether used as a trademark, trade name, business name or corporate name;

or           (2)  (2)  Interfere with the power of any court to enjoin the use of the name on the basis of the law of unfair competition or on any other basis except the identity or similarity of the alternate name to any corporate, limited partnership or limited liability company name.

          e.    e.   A limited liability company which has used an alternate name in this State contrary to the provisions of this section shall, upon filing a certificate of registration of alternate name or an untimely certificate of renewal, pay to the 1[filing office] State Treasurer1 the filing fee prescribed for the certificate plus an additional filing fee equal to the full amount of the regular filing fee multiplied by the number of years it has been using the alternate name in violation of this section.

          f.    f.    The failure of a limited liability company to file a certificate of registration or renewal of alternate name shall not impair the validity of any contract or act of the limited liability company and shall not prevent the limited liability company from defending any action or proceedings in any court of this State, but the limited liability company shall not maintain any action or proceeding in any court of this State arising out of a contract or act in which it used the alternate name until it has filed the applicable certificate.

          g.   g.   (1) A limited liability company which files a certificate of registration of alternate name which contains a false statement or omission regarding the date it first used an alternate name in this State shall, if the false statement or omission reduces the amount of the additional fee it paid or should have paid as provided in subsection e.

          (2)  (2)  A limited liability company which should have filed a certificate of registration or renewal of alternate name and fails to do so within 60 days after being notified of its obligation to do so by the 1[filing office] State Treasurer1, by any other governmental officer, or by any person aggrieved by its failure to do so, shall forfeit to the State a penalty of not less than $200 nor more than $500.

          (3)  (3)  A penalty imposed under this section shall be recovered with costs in an action brought by the Attorney General.

        (1)  No domestic corporation, or foreign corporation which  transacts business in this State within the meaning of section 14A:13-3, shall transact any business in this State using a name other than its actual name unless     (a)  It also uses its actual name in the transaction of any such business in such a manner as not to be deceptive as to its actual identity;