Secretary of State - As enacted, clarifies that administrative dissolution is permitted for certain entities if the entity files a signed document with the secretary of state knowing that it contained materially false information; permits administrative dissolution of certain entities if the entity is owned or controlled by a foreign government or foreign non-government person determined to be a foreign adversary by the United States secretary of commerce. - Amends TCA Title 43, Chapter 38; Title 48, Chapter 24; Title 48, Chapter 245; Title 48, Chapter 246; Title 48, Chapter 249; Title 48, Chapter 25; Title 48, Chapter 64; Title 48, Chapter 65 and Title 61, Chapter 3.

SB 306 allows Tennessee's Secretary of State to dissolve certain businesses, including corporations, cooperatives, and LLCs, if they file a document with knowingly false information or are owned by a foreign government or foreign entity designated as a "foreign adversary" by the U.S. government. The bill adds these two specific conditions to existing business registration laws, permitting dissolution without a court order. It applies to all businesses filing documents with the Secretary of State, affecting both domestic and foreign-owned entities operating in Tennessee. An exception is maintained for foreign entities approved by the Committee on Foreign Investment in the United States.