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The Importance of a Registered Agent for Your Business
Many business owners who are just starting out often overlook the fact that they need to appoint a registered agent. All corporations, nonprofits, limited liability companies, limited partnerships, limited liability partnerships and limited liability limited partnerships must continually maintain a Kentucky registered agent. A registered agent is simply the agent for service of process, notice, or demand required or permitted by law to be served on the business entity. Registered agents routinely receive important mail from the state, like annual reports or statements and tax documents. Service of process is the document which initiates a lawsuit against your company and starts the tolling of the statute of limitations.
In Kentucky, the following may qualify as a registered agent:
1. An individual who resides in this state and whose business office is identical with the registered office;
2. A domestic corporation or not-for-profit domestic corporation whose business office is identical with the registered office;
3. A foreign corporation or not-for-profit foreign corporation authorized to transact business in this state whose business office is identical with the registered office;
4. A domestic limited liability company or a foreign limited liability company authorized to transact business in the state whose business office is identical with the registered office; or
5. A domestic limited partnership or foreign limited partnership authorized to transact business in the state whose business office is identical with the registered office.
A business owner may act as their own registered agent; however, it may be difficult for that person to always be available during business hours to accept service. Further, owners should consider that, in the event they are notified of a lawsuit, a sheriff or local law enforcement may be delivering this document. Many business owners do not want this to occur at their place of business. In addition, if an owner serves as his own agent and his registered office (usually the place of business) is moved, then an updated form must be completed and filed with the Secretary of State. If a business owner only has a PO Box as his address, then a different registered agent must be appointed because a street address must be provided.
There is no shortage of commercial registered agent services that, for a fee, will designate a service agent for your company in your area. Business owners usually have enough on their own plate without having to worry about missing or losing critical documents; appointing a trustworthy and dependable agent can alleviate this burden. If your business needs a reliable and respected corporate attorney or someone to serve as a registered agent, McBrayer is the answer for both. MMLK, Inc. regularly serves as a registered agent for clients and would be happy to do the same for you.