1What is a Registered Agent?
It is a mandatory “agent” of the corporation or LLC who is officially designated at the time that incorporation or registration documents are filed in accordance with state requirements. A Registered Agent is designated to be responsible for receiving and forwarding lawsuits and other critical legal and tax documents on behalf of the company.
2Can an entity act as its own Registered Agent?
Most businesses choose an independent third party to serve in this important capacity and with good reason. Business matters frequently take essential personnel out of the office. In the absence of a responsible employee, an organization might be at greater risk for a default judgment for failure to answer a complaint within a court-mandated response period. Additionally, the location of a principal office address may change from time to time. The maintenance of a constant registered office eliminates the costly requirement of changing the registered office location of the company with the state each time it relocates. Also, an independent Registered Agent affords an economical level of privacy to avert the need to deal with private process servers and/or the court appointed law enforcement personnel when served in front of employees and clientele at the office or neighbors at home.
3What purpose does a Registered Agent serve?
A Registered Agent will act as the representative for accepting Service of Process served upon the company within the jurisdiction of any state where the company conducts business, and will also forward any other official legal and tax correspondence from the state.
4What will happen if my company fails to register or designate and maintain a Registered Agent?
Failing to register and designate a registered agent may foreclose or hinder the company’s ability to legally enter into contracts and gain access to the state courts. Moreover, it may subject the company to monetary, civil, and possibly criminal sanctions. Also, failure to maintain a registered agent may cause your company to fall out of “good standing” within the state. This will subject your license to do business within a state to forfeiture, with monetary penalties assessed to reinstate your company to a “good standing” again.
5What if I have an existing entity and someone else is currently serving as the registered agent?
If your entity is already in existence with another registered agent on file, in most states a “change-of-agent” filing must be submitted for you to change to another agent.
6What is the change of agent filing?
When requesting registered agent services for an existing entity, the state will require a filing that notifies them of this change.
7What is the duration of Registered Agent Service?
It is an annual service, renewing automatically in the month when service was first initiated. Failure to renew Registered Agent Service may result in an Agent Resignation filing and will ultimately effect good standing with the state(s) where registered to do business.
8What is auto billing?
For your convenience, Launch by LegalShield will automatically renew your Registered Agent Service annually. Eliminate the worry about remembering to renew your Registered Agent each year. Failure to renew may affect good standing with the state where registered to do business.
9What is the cancellation policy for Registered Agent Services?
In the event you wish to cancel your Registered Agent Service, you must notify Launch by LegalShield in writing 30 days prior to the beginning of the next renewal term and provide Launch by LegalShield proof of resignation of registered agent.