SENATE BILL: Break the Shell Corporations Act (law'd)

[Southern Senator North Carolina Yankee]

The bill says the company must own it's own address. A renter doesn't own his own address.


This needs to be change.

[Southern Senator North Carolina Yankee]

Two people here saying it needs amended here are Senators. You two have that power, you know.

It is to show public solidarity. It encourages objector number 1 to offer the amendment, and potentially intimidates the sponsor into not opposing it. It works better when a larger number of Senators does that, though, like 9.

[Southern Senator North Carolina Yankee]

The benefit comes from locating your HQ in CA or NY but officilially incorporating in say DE or some other state consider to have beneficial corporate statutes and/or lower taxes.

[Southern Senator North Carolina Yankee]

Not an amendment:

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How is this?

[Southern Senator North Carolina Yankee]

This bill is kind of hard to amend for the purposes of addressing these legitimate concerns and still maintain the ironclad provisions to prevent the practice in question.

[Southern Senator North Carolina Yankee]

In light of Nathan's propose change to section 3, I now offer this as amendment to Section 1:

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[Southern Senator North Carolina Yankee]

FWIW I know that in some rather remote areas businesses often don't have real addresses valid for mailing, this was common on the Reservation I used to live on (Alcon has reported it's common on other Reservations, even for private addresses.) Some also have addresses but can't collect mail there (The main thing that comes to mind is a strip club I know of, lol, but it still counts.)

And I don't see how this'll work anyway, the proposed change still leaves a pretty big loophole. There's tons of cheap office space, they can just rent out a room and hire a receptionist to handle basic duties and now they have a headquarters.

This what I was driving at above. It is hard to create hard core regulations that will successfully deal with the problem. It is even harder to craft those so as to not crimp legitimate business activity.

[Southern Senator North Carolina Yankee]

It's too late now of course, but I probably would have voted aye.

I worry about section 2, and think we should perhaps consider tightening up that loose end through further legislation.