Businesses are told that they must remit a $125 fee within ten business days to ensure that they meet state corporate reporting requirements regarding minutes of meetings of shareholders and directors. Neither the Texas Secretary of State's Office nor state law requires the kind of "disclosures" described in the solicitation. Corporations are required only to retain annual minutes.

The solicitation form falsely warns businesses that failure to complete a form and return it as directed could result in personal liability of a corporation's officers and directors. The Texas Business Corporation Act cited in the fraudulent solicitation letter does not place personal liability upon corporate officers for failure to file annual minutes. In addition, Texas Corporate Compliance warns that failure to file annual minutes can result in possible loss of the corporation's limited liability status, which is also false.

This deceptive operation, which has already been run out of Florida, is merely trying to scare businesses into paying for its services. I urge all business owners to read any solicitation for business services very closely. Documents relating to the lawsuit against Texas Corporate Compliance can be found on our website at www.oag.state.tx.us.