Who Can Serve as a Statutory Agent in Arizona?

A statutory agent, often referred to as a registered agent, is a person or organization chosen to receive legal documents on behalf of a corporate entity, such as lawsuits and subpoenas. Every corporation, LLC, limited partnership, and limited liability partnership (LLP) in Arizona is required to have a statutory agent. But who can fill this position?

Arizona law stipulates that a statutory agent must be either an individual who resides in Arizona, a corporation registered in Arizona, a limited liability company, or a limited liability partnership registered in Arizona. In other words, the agent must be accessible to receive legal documents during regular business hours and have an actual street address in Arizona.

When you submit your formation documents to the Arizona Corporation Commission for approval, you can select a statutory agent if you’re launching a business in Arizona. By submitting a Statement of alter of Known Place of Business Address or Statutory Agent/Statutory Agent’s Address to the Commission, you can also alter your statutory agent at any time. How Much Does an Arizona Statutory Agent Cost?

Depending on the agent you use, Arizona’s statutory agent fees vary. Some businesses charge as little as $39 for this service each year, while others charge hundreds. It’s crucial to take into account both price and service quality when choosing a statutory agent.

Am I allowed to act as my own Statutory Agent? If you meet the requirements listed above, you may act as your own statutory agent. But there are a number of reasons why using a professional agent can be more advantageous. For instance, if you act as your own agent and are sued, court papers may be delivered to you publicly, which could harm the reputation of your company. You can also miss crucial legal notices if you are unreachable during usual work hours.

You must submit a Statement of Change of Known Place of Business Address or Statutory Agent/Statutory Agent’s Address to the Arizona Corporation Commission if you want to modify your statutory agent’s address there. There is a $5 filing fee for this form, which can be submitted either online or by mail. A Statement of Acceptance of Appointment as Statutory Agent, which must be included with the filing, must also be signed by the new agent. Your new agent will be legally designated as your statutory agent following the Commission’s approval of the form.

In conclusion, choosing a qualified person or company to act as your statutory agent is crucial because it’s a requirement of conducting business in Arizona. You may make sure that your company complies with Arizona law by being aware of the prerequisites for statutory agents and how to choose and replace them.