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PC 1309

Para enmendar los Artículos 21.02, 21.03 y 21.04 de la Ley 164-2009, según enmendada, conocida como la “Ley General de Corporaciones” de Puerto Rico, a los fines de establecer un proceso automático y eficiente de cancelación de Compañías de Responsabilidad Limitada por incumplimiento en el pago de derechos anuales, crear un mecanismo de disolución voluntaria simplificada para entidades inactivas, disuadir el mantenimiento indefinido de entidades abandonadas; y para otros fines relacionados.

2025-2028 Session

The bill auto-cancels delinquent LLCs and simplifies voluntary dissolution for inactive ones to improve accuracy and reduce regulatory burden.

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Bill Summary · PC 1309

Summary of Bill PC 1309 (Session 2025-2028) — Puerto Rico

Purpose and intent

  • The bill aims to amend Articles 21.02, 21.03, and 21.04 of Puerto Rico’s General Corporation Law (Law 164-2009, as amended).
  • The overarching goals are to:
    • Establish an automatic and efficient process for canceling Limited Liability Companies (LLCs) that are delinquent in paying annual fees.
    • Create a simplified mechanism for voluntary dissolution of inactive entities.
    • Discourage the ongoing maintenance of abandoned entities.
    • Realign regulatory procedures to improve compliance, reduce administrative burden, and streamline entity dissolution.

Key provisions and changes

1) Automatic and efficient cancellation of delinquent LLCs
- Introduces a standardized process to identify LLCs that have not paid annual fees.
- Automates the cancellation/voiding of these entities after defined noncompliance periods, subject to established notice and due-process requirements.
- Aims to reduce delays associated with manual enforcement and ensure timely removal of noncompliant entities from the records.

2) Simplified voluntary dissolution for inactive entities
- Establishes a streamlined pathway for entities that are inactive to dissolve voluntarily.
- Likely reduces procedural steps, fees, and administrative hurdles for LLCs that affirmatively wish to terminate their existence.
- Seeks to prevent indefinite maintenance of dormant entities that do not carry out business activities.

3) Disincentives against maintaining abandoned entities
- Creates mechanisms or timelines that discourage neglecting compliance duties (e.g., failure to file annual reports or pay fees).
- The policy intent is to minimize the number of abandoned or dormant entities in the registry, improving accuracy and reducing regulatory overhead.

4) Procedural and regulatory alignment
- Updates definitions, timelines, notices, and due-process standards to support the automatic cancellation and voluntary dissolution processes.
- Aligns related administrative and record-keeping practices with the new streamlined procedures.

Who and what would be affected

  • Affected entities: Puerto Rico-registered LLCs that are delinquent in annual fee payments and those that are inactive or dormant and seeking dissolution.
  • Affected actions:
    • Automatic cancellation of delinquent LLCs after specified procedures.
    • Availability of a simplified voluntary dissolution option for inactive entities.
  • Government/regulatory body: The Puerto Rico Office or Department responsible for corporate registrations and annual filings (the bill presumes a regulatory authority oversees notice, verification, and record updates).

Procedural and timeline aspects

  • The bill proposes clearly defined timelines for:
    • Notice and cure periods before automatic cancellation.
    • Processing steps for voluntary dissolution.
    • Public record updates following cancellation or dissolution.
  • By creating an automated framework, it reduces discretionary delays and aims to expedite entity termination while preserving due-process protections.

Potential impacts

  • Compliance efficiency: Streamlined cancellation and dissolution processes could improve regulatory efficiency and reduce backlog.
  • Registry accuracy: Elimination of abandoned or noncompliant entities may enhance the accuracy and usefulness of the corporate registry.
  • Economic and administrative clarity: Businesses would benefit from clearer pathways to wind down inactive entities; meanwhile, the state reduces ongoing administrative costs associated with dormant LLCs.
  • Stakeholder considerations: Entities with limited activity and nonpayment issues would need to monitor notices and timelines to avoid inadvertent dissolution.

Note on status

  • The bill was filed (Radicado) on 2026-06-10 and is in the legislative record as of that date. Further actions (debate, amendments, votes) would determine final enactment and implementation date.

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

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