ARIZONA CORPORATION COMMISSION
1200 W. WASHINGTON
PHOENIX, AZ. 85007

A new state law that changes the procedure for filling annual reports with the Arizona Corporation Commission will impact every corporation doing business in Arizona. Corporation Commission Chairman Carl J. Kunasek said, "Our Legislature improved the efficiency of state government, and made life easier for users of Corporations Division services, when HB2531 became law."

The law ends the once a year rush by Arizona Corporations to file their annual reports by an April 15th deadline. Instead, corporate annual reports will be filed on a staggered schedule year around.

Joanne MacDonnell, Director of the corporations division said, " The new law becomes effective July, 1997. Under a staggered reporting procedure, our staff can operate more efficiently and productively." She added "By ending the filing crunch on April 15th, our staff can process documents more promptly. "The legislature made sure that users of corporations division information will have the most current documents possible."

New computer programming was created to assign newly forming corporations a filing date based on the date they filed to become incorporated. Existing corporations still required to file a financial disclosure statements such as nonprofit, publicly traded or public service corporations will be assigned a filing date.

The remaining business corporations will be assigned a due date alphabetically by their corporate name with an allocation of about 10,000 corporations per month. All corporations registered to conduct business with the Arizona Corporation Commission will be notified of their new annual report filing due date.