Friday, December 18, 2009

IMPORTANCE OF ENTITY PROTECTION – LIMITED PERSONAL LIABILITY-EARLY INVOLVEMENT OF PROFESSIONALS

IMPORTANCE OF ENTITY PROTECTION – LIMITED PERSONAL LIABILITY

EARLY INVOLVEMENT OF YOUR NEVADA BUSINESS LAWYER IS ESSENTIAL

Importance of Having your Attorney as your Registered Agent

A registered agent is a business or individual designated to receive service of
process when a business entity is made party to a legal action such as a summons or lawsuit. In Nevada, any business entity must designate and maintain a “Registered Agent.” The purpose of the agent is to provide a legal address within Nevada to facilitate legal service of process in the event of legal action.

In general, the agent is also the person whom the state government sends all official documents required for tax and legal purposes, such as franchise tax notices and annual report forms. The agent then forwards these documents to the entity itself. The agent also notifies its business entity as to whether or not it is in “Good Standing” with the state. The reason for this is that it is difficult for a business to keep track of legislative changes and report due dates for multiple jurisdictions given the differing laws of disparate states.



Disclaimer: This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. If you have questions or need specific advice relating to the matters contained herein, please contact Lovaas & Lehtinen, P.C.

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