Registered Agent Moving? Here's What To Do
When a company designates a registered agent, they are entrusting this individual or organization with a critical role. The registered agent is responsible for receiving legal documents and forwarding them to the appropriate parties. However, there may be instances where a registered agent resigns or moves, leaving the company in a potentially precarious situation. In this article, we will discuss the process that companies should follow if their registered agent resigns or moves.
Move Fast To Replace Your Registered Agent
The first step that a company should take is to immediately designate a new registered agent. This is critical, as failing to have a registered agent can have serious consequences, such as missed deadlines, legal disputes, and penalties. The company should ensure that the new registered agent is reliable and capable of fulfilling their duties.
Rapidly Notify Your Secretary of State or the Proper Authority
Next, the company should file a change of registered agent form with the appropriate state agency. The process for doing this will vary depending on the state in which the company is registered, so we recommend that you check out this 50 State Guide to Registered Agents. In some states, companies may be required to submit a written resignation letter from the former registered agent along with the change of registered agent form.
Inform Your Attorneys, Accountants, and Partners
It is also important for the company to inform all relevant parties of the change in registered agent. This includes any legal counsel, creditors, and business partners. This can be done by sending a formal notice via certified mail or email. The notice should include the name and contact information of the new registered agent.
It is worth noting that some states may require a waiting period before the change of registered agent becomes effective. Companies should be aware of these requirements and plan accordingly.
Make Certain To Choose a Capable Registered Agent Service
In addition to following these steps, companies should also take proactive measures to ensure that their registered agent is reliable and capable of fulfilling their duties. This includes conducting due diligence when selecting a registered agent and regularly reviewing their performance. It is also important for companies to maintain open lines of communication with their registered agent to ensure that they are aware of any changes or updates that may impact their duties.
Summing It All Up
In conclusion, whether you have recently formed your business or it has tenure, a company's registered agent plays a critical role in ensuring compliance with legal requirements and protecting the company's interests. If a registered agent resigns or moves, it is essential for the company to take immediate action to designate a new registered agent and inform all relevant parties. By following these steps and taking proactive measures to maintain a reliable registered agent, companies can minimize the risk of legal and financial consequences.