A physical Arizona address where legal documents can be delivered during regular business hours is required for statutory agents. This is significant since many businesses do not have a physical presence in Arizona, and legal paperwork must be served personally. Legal documents must be promptly received by and forwarded to the proper persons by the statutory agent.
In Arizona, there are various ways to locate a statutory agent. Many companies decide to work with a reputable registered agent agency that focuses on offering statutory agent services to companies. The cost of these services is largely dependent on the degree of care received.
As an alternative, companies may decide to choose a person or organization as their statutory agent. This might be an employee of the company, a lawyer, or another reliable individual. The appointed statutory agent must have a physical address in Arizona where documents can be sent and be ready to accept legal documents on behalf of the company.
In Arizona, the price of a statutory agent can differ based on the service provider. An annual cost of $50 to $500 is normal for professional registered agent services. Depending on the degree of service offered, such as document scanning or mail forwarding, the price may vary.
There can be little to no expense if a business decides to name someone or anything as its statutory agent. However, it is crucial to make sure that the chosen individual can carry out their obligations as a statutory agent, such as being accessible to take legal documents during regular office hours. Am I Entitled to Act as My Own Statutory Agent?
In Arizona, a company owner may act as their own statutory agent. However, it’s crucial to take into account any potential downsides. The company runs the danger of missing crucial deadlines or suffering legal repercussions if the owner is unavailable to accept legal paperwork during regular business hours. Additionally, acting as a statutory agent could force the company owner to reveal their home location and phone number, which might jeopardize their security and privacy. Do I Need to Publicize My LLC AZ?
No, Arizona law does not mandate that LLC formation documents be made available in a newspaper or other public venue. However, LLCs are obliged to keep specific documents, such as annual reports and financial statements, and to file Articles of Organization with the Arizona Corporation Commission. Penalties or the loss of the LLC’s legal status may come from failure to adhere to these rules.
You must submit a Statement of Change of Known Place of Business Address or Statutory Agent to the Arizona Corporation Commission in order to modify your statutory agent in this state. There is a cost and the form must be submitted either online or by mail. Before submitting the form, you must supply the name and address of your new statutory agent and get their written permission. Your new statutory agent will be officially acknowledged by the state of Arizona once the paperwork has been submitted and processed.