There have been large developments across the globe regarding registered agent services. Ranging from Commercial Registered Agents, to the abilities of individual registered agent services, to the guarantees offered by registered agent services. This article will cover some of the latest registered agent services news around the globe to keep you updated and informed.
Not all states recognize Commercial Registered Agents
Commercial registered agents is a person or entities that have filed a commercial registered agent listing statement with the Secretary of State, or equivalent state office, in accordance with the Model Registered Agent Act (MoRAA) or the applicable state laws.
According to MoRAA, the listing statement must include the registered agent’s name and the entity type, a statement that the person or entity acts as a commercial registered agent as well as a physical address in the state where the official documents can be received. This act distinguishes between commercial and noncommercial registered agents but is currently only recognized by 11 states as well as Washington D.C. These states are Arkansas, the District of Columbia, Idaho, Indiana, Maine, Mississippi, Montana, Nevada, North Dakota, South Dakota, Utah and Wyoming. Although these states do not recognise MoRAA, Pennsylvania, Washington, Hawaii, Delaware, and California have laws similar to the act.
Individual Registered Agent Services are able to keep the clients’ address private, as well as their own
Seeing that a registered agents’ address has to be publicly available, anyone from marketers, mailing lists to spammers have access to it. Due to this, registered agents often receive junk mail for their business. If an individual register agent service wants to keep their company and/or business address private, or if they want to prevent junk mail, they can use a third-party registered agent. This offers extra privacy and helps save time.
By using a registered service, businesses prevent awkward situations too. Seeing that service of process is delivered by law enforcement officers, if the business’ address is used as the registered agent address, customers and clients may see this happen. If this home address is used as a registered agent address, the business owner might face unwanted questions from neighbours. Therefore, having a registered agent service is beneficial. It is also trustworthy because their address is required to be kept current in state records. Registered agent services will ensure that the address is up to date and that important time-sensitive documents are delivered to the correct place.
Using a registered agent service has been proven to offer multiple benefits
The range of benefits that a registered agent service offers are compliance with the law, peace of mind, privacy, flexibility and privacy.
- Compliance with the Law
The purpose of a registered agent service is to keep copies of corporate documents and to assist businesses in staying updated on state requirements. They do so by sending reminders for filings which prevents businesses from having the risk of having legal fees, penalties or losing the business entirely. Registered agent services also assist in finding state-specific accountants and legal professionals seeing that most businesses will need accounting or legal assistance.
Some states require a registered agent for all businesses within that state. An example of this is Texas, which requires a Texas registered agent for every formal business in the state. When Texan entrepreneurs hire a registered agent, they ensure compliance with the law.
- Peace of Mind
Peace of mind is offered to allow businesses more time on the business. Registered agent services guarantee this by making the client the number one priority by always automatically receiving and storing important LLC documents. They also assist in separating personal mail from business mail and they offer personal guidance if needed.
Registered agent services allow businesses the flexibility to focus on the business rather than having to receive documents and official notices during the standard business hours. This allows businesses to have flexible business hours and the opportunity to form an LLC in any state if the registered agent service is a national one.
As mentioned earlier, the registered agent services’ address will be listed on public record. This means that the business’ address is not on public record, which is exceptionally beneficial especially if the business is based from a home.
To stay updated in the ever changing registered agent service world, businesses need to make sure they follow the latest news. By doing so, they will stay educated and will be able to use the evolving benefits.