VACATE THE FORFEITURE OR REVOCATION OF THE CHARTER OF LEO'S SERVICE CENTER, INC.
Summary
S0840 is a special act that allows Leo’s Service Center, Inc. to have its corporate charter reinstated after a forfeiture or revocation, provided the company satisfies specified compliance requirements by December 31, 2025. To regain good standing, the corporation must file any required corporate tax returns, pay all taxes due or that should have been due to the state, obtain a certificate from the tax administrator confirming payment, and file any required reports and fees with the secretary of state.
If those conditions are met, the revocation of the charter is vacated and the corporation is restored to the same legal status it would have had if the revocation had never occurred. The act takes effect immediately upon passage and functions as a targeted remedy for a single named business rather than a general change to corporate law.
Impact
The bill affects Rhode Island corporate and tax administration by creating a one-time pathway for Leo’s Service Center, Inc. to restore its charter and resume corporate existence in good standing. It does not amend the general corporation statutes, but it conditions reinstatement on compliance with state tax obligations, reporting requirements, and fee payments, thereby linking the secretary of state’s records with the tax administrator’s certification process.
Sentiment
The available legislative history suggests the bill was noncontroversial. It was placed on the Senate Consent Calendar and later passed in concurrence by a 69-0 vote, indicating broad support and no recorded opposition. The absence of committee transcript discussion also suggests it was treated as a routine administrative or remedial measure.
Contention
There is no recorded substantive contention in the provided materials. The only implicit issue is whether the corporation has satisfied all outstanding tax, reporting, and fee obligations before reinstatement, since the act makes restoration contingent on those requirements. Otherwise, the bill appears to have been viewed as a straightforward charter-revival measure for a single business entity.