Important Notice to ALL Service Providers,
The deployment of CRISS, brings with it some changes that all registered agents must be aware of. Registered agents are required to pay special attention to the following and to be guided accordingly:
- BUSINESS ACTIVITIES
The use of the CRISS environment requires details regarding the business activities for LLCs, IBCs and Foundations. This information must be provided by the registered agent and inputted into CRISS to proceed with the registration of LLCs, IBCs and Foundations. Although CRISS contains examples of business activities that can be chosen, specific business activities will be required to be inputted. If the business activities details are not included in CRISS, the registration process cannot be completed; and will remain pending until these details are entered.
- REMOVAL FROM THE REGISTER
In the past, LLCs, IBCs and Trusts were removed from the register on a twice yearly basis providing that fees were not paid within a two-year interval. CRISS now allows for automatic removal from the registers in accordance with section 119 of the NBCO; section 73 of the NLLCO and section 37 of the NIETO. Once removed, each entity will be required to pay the prescribed fees which includes, renewal, penalty and reinstatement fees.