You might be wondering whether the term LLC needs to be present in the name you choose for your company. No, you are not needed to include LLC in your company name. However, there are a few guidelines and laws that you must go by while naming an LLC.
The first requirement is that your LLC name must be distinct from other registered business names in your state. On the website of your state’s secretary of state, you can look up names that are available. Additionally, words like bank, insurance, or corporation that are forbidden by your state cannot be used in your LLC name.
Although it is not needed, it is a good idea to add LLC in your company name. This serves as a public notice that your company has a limited liability company registration. This means that any liabilities incurred by the firm are shielded from your personal assets.
A registered agent is a person or organization chosen to accept legal documents on your LLC’s behalf. Although it is possible, it is not always advised to act as your own registered agent. Because legal documents must be delivered to a registered agent during regular business hours, this is required. You can miss crucial legal notices if you’re not available during certain times.
Additionally, if you serve as your own registered agent and your company is sued, you will receive personal service of the case. This indicates that your private property may be at danger. To make sure that legal documents are received and handled promptly, it is advised that you appoint a qualified registered agent.
In order to properly serve legal documents on an LLC in New York, certain guidelines must be followed. You must first specify who the LLC’s registered agent is. The website of the New York Department of State contains this information.
After determining the registered agent, you can serve the legal papers in person or via certified mail. You must send a copy of the documents by regular mail if you prefer to serve them by certified mail. If you decide to serve the papers personally, a process server or sheriff must conduct the job.
Yes, a single person may hold an LLC. This type of LLC has only one member. There are certain variances even though the guidelines for a single-member LLC are essentially the same as those for a multi-member LLC. A single-member LLC, for instance, is not required to have meetings or maintain minutes.
No, a single-member LLC and a sole proprietorship are not the same thing. A sole proprietorship is not a separate legal entity from the owner, even when both are owned by the same individual. This means that any obligations or liabilities incurred by the company are personally liable for the owner. A single-member LLC, on the other hand, offers liability protection for the owner’s personal assets and is a separate legal entity from the owner.