WeVote
Log In

Bill

Bill

SB 3266

AN ACT TO VACATE THE FORFEITURE OR REVOCATION OF THE CHARTER OF CHARLIE'S OIL CO., INC.

2026 Regular Session Introduced by Walter Felag

Restores Charlie's Oil Co., Inc. charter by Dec 31, 2026 if taxes are filed and paid, a certificate obtained, and state reports/fees completed, vacating prior revocation.

06/16/2026 Effective without Governor's signature
0
WeVote Research Nonpartisan
Bill Summary · SB 3266

Bill Summary: SB 3266 (Rhode Island, 2026)

Title

AN ACT TO VACATE THE FORFEITURE OR REVOCATION OF THE CHARTER OF CHARLIE'S OIL CO., INC.

Purpose and Intent

  • The bill aims to restore the charter status and related privileges of Charlie's Oil Co., Inc. if the company meets specific conditions by December 31, 2026.
  • Specifically, it provides a pathway to vacate (cancel) any earlier forfeiture or revocation of the corporation’s charter, effectively placing Charlie's Oil Co., Inc. back in good standing as if the charter had not been revoked.

Key Provisions

SECTION 1 – Conditions to Vacate the Charter Revocation

  • If Charlie's Oil Co., Inc., which qualified on December 26, 1978, fulfills the following by December 31, 2026:
    1. Files any corporation tax returns that may be required by the state.
    2. Pays all taxes due or that should have been due to the state.
    3. Files with the Secretary of State a certificate signed by the tax administrator confirming that such tax returns and taxes have been paid.
    4. Files all reports and pays all fees required by the Secretary of State.
  • Upon the filing of the above certificate, the revocation of the corporation’s charter shall be vacated.
  • After vacating the revocation, the corporation shall be entitled to all privileges, benefits, and powers, and shall be subject to the same duties and liabilities as if there had been no charter revocation.

SECTION 2 – Effective Date

  • The act takes effect upon passage.

Who/What is Affected

  • Entity: Charlie's Oil Co., Inc.
  • The bill affects the status of Charlie's Oil Co., Inc.’s charter with regard to any prior forfeiture or revocation.
  • It directly involves the Rhode Island Department of Revenue (for tax returns and payments) and the Rhode Island Secretary of State (for reports, fees, and certification).

Procedural and Timeline Aspects

  • Deadline for Compliance: December 31, 2026.
  • Required Actions by Company (by Deadline):
    • File any required corporate tax returns.
    • Pay all taxes due (or that should have been due).
    • Obtain and file a certificate from the tax administrator confirming payment of tax returns and taxes.
    • File all reports and pay all fees required by the Secretary of State.
  • Legal Effect Upon Compliance: If the above are completed and the certificate is filed, the prior charter revocation is vacated, restoring the corporation to full status with all corresponding rights and obligations.
  • Effective Date of Act: Upon passage (immediate effect once enacted).

Notes

  • The bill is introduced by Senator Walter S. Felag and placed on the Senate Consent Calendar.
  • It provides a one-time vesting opportunity tied to compliance by a specific date, effectively retroactively reinstating corporate status as if the revocation had not occurred.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.