What is the penalty for failing to provide notice of a change in the business name?

The penalty for failing to provide notice of a change in the business name is indeed $500. This amount is stipulated to ensure that businesses remain compliant with registration and licensing requirements, allowing regulatory bodies to maintain accurate records. Such penalties are crucial for maintaining the integrity of the licensing process and for keeping public information current and reliable. Compliance with these rules helps prevent confusion and ensures that services can be tracked accurately. It is essential for businesses to notify the appropriate authorities promptly of any changes in order to avoid these penalties and maintain good standing in their operations.