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Bill would put limits on secrecy

Date: 05/05/2008 | Category: Business | Author: Diana Heeb Bivona

In an article in the Las Vegas Review Journal printed on 5/2/08, “Nevada Legislature has enacted a law that allows law enforcement agencies to request the names of a business’s corporate owners. If the corporation fails to provide the information within 72 hours, the corporation is voided.”

Senators are introducing legislation that would require all states to obtain ownership information on all corporations, LLC’s, etc.

This bill, The Incorporation Transparency and Law Enforcement Assistance Act, would allow law enforcement agencies to obtain records of ownership through subpoenas and summon’s. Although, the states could keep the information from being “public” information.

Press Release from US Senator Carl Levin (MI)

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