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Statutory Agent

Guest post by: Ilya Bodner

Article Overview: A statutory agent, also known as a registered agent, is an individual, sometimes third-party, designated by a corporation to receive "service of process." Service of process includes such items as notices of lawsuits and summons to appear in court. The name and physical address of your corporation's statutory agent is required information on your Articles of Incorporation and you cannot incorporate without designating one.

Statutory Agent

STATUTORY AGENTS

A statutory agent, also known as a registered agent, is an individual, sometimes third-party, designated by a corporation to receive "service of process." Service of process includes such items as notices of lawsuits and summons to appear in court. The name and physical address of your corporation's statutory agent is required information on your Articles of Incorporation and you cannot incorporate without designating one. You may be able to designate yourself as the statutory agent of your business, but there are many reasons why you may want to consider appointing someone else to handle these legal matters.

First and foremost, it is crucial to plan for the worst. Running a small business takes time and dedication. While in ideal circumstances you will not be receiving much legal paperwork, in the event that you are sued or summoned to appear in court, you would find yourself inundated with additional work just managing the legal issues. These issues can interfere with the operation of your business, and conversely, the operation of your small business can interfere with your legal defense. It is best for a different person to handle each aspect if possible.

Many other reasons exist to appoint a separate Statutory Agent, and at StrongBusinessCredit, each scenario is thoroughly examined. The most important thing to do is to be prepared for the seeable as well as the unseeable events which might occur in a business cycle.

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Article Tags: Ilya Bodner



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