In this week's Freedom Friday blog and email newsletter, I'm going to continue talking about a topic that I've talked about the last two weeks, and its very important, because a lot of my new clients who come to me to form their businesses need to know about this, and that is registered service agents. Again, I'm taking a deep dive this week, and answering the question, “Who can be the registered service agent for your small business?”
Under Oklahoma law, an LLC must have a registered service agent, and that can be the LLC itself, an individual resident of this state, or a domestic or qualified foreign corporation, a different LLC, or general or limited partnership, including a limited liability partnership, or a limited liability limited partnership. Similarly, a corporation (including a nonprofit corporation), must have a registered service agent, and that can be the corporation itself, an individual resident of this state, a different corporation, a partnership of any kind, or an LLC. Thus, any individual residing in Oklahoma, or Oklahoma-based LLC or corporation can be the registered service agent for your small business. You can even be your own registered service agent (either you personally, or the small business itself). However, that's not always a good idea.
Why is it not a good idea to be your own registered service agent? For some businesses, its okay for you to be your own registered service agent. But, for example, if you have a retail operation, you might not want a process server showing up to serve you or your business with legal papers in front of your customers. Such can be very embarrassing and cause you to lose business. Many small business owners choose a company that specializes in being a registered service agent for a small fee, or even some choose a law firm to serve as their registered service agent for that purpose. Liberty Legal Solutions, LLC, serves as a registered service agent for several LLCs, nonprofits, and limited partnerships. We offer a registered service agent program for an annual fee of $150.00, and most of the small business owners who come to us to help them form their business structure choose this option because it is the icing on the cake for their new small business.
Thinking about starting a small business? Or maybe your small business is having issues with contracts, leases, business partners, collection issues, or experiencing other barriers to growth? Please contact me at [email protected] to schedule a FREE strategy session.
For more information about Liberty Legal Solutions, LLC, please visit our website at http://www.libertylegalok.com/