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 (continued)
In Nevada, if an LLC, LP, or corporation fails to maintain a registered agent that company will be in default and its legal status will be revoked. In addition, penalty fees may be assessed for the entity’s failure. If a registered agent fails to perform their function, it can have significant consequences for the business entity. Most common would be a failure on the part of a company to respond to a given complaint or a failure to appear in court resulting in a default judgment that could substantially hinder an entity’s economic well-being.
To qualify as a registered agent in Nevada the agent must be a legal resident of the state. However, Nevada does allow a corporate officer of the corporation to serve, and allows the corporation’s lawyer to serve as an agent. Some states allow a business entity to act as its own registered agent, but other jurisdictions require that a business entity designate a third party as its registered agent.
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.
EARLY INVOLVEMENT OF YOUR NEVADA BUSINESS LAWYER IS ESSENTIAL
Importance of Having your Attorney as your Registered Agent (continued)
In Nevada, if an LLC, LP, or corporation fails to maintain a registered agent that company will be in default and its legal status will be revoked. In addition, penalty fees may be assessed for the entity’s failure. If a registered agent fails to perform their function, it can have significant consequences for the business entity. Most common would be a failure on the part of a company to respond to a given complaint or a failure to appear in court resulting in a default judgment that could substantially hinder an entity’s economic well-being.
To qualify as a registered agent in Nevada the agent must be a legal resident of the state. However, Nevada does allow a corporate officer of the corporation to serve, and allows the corporation’s lawyer to serve as an agent. Some states allow a business entity to act as its own registered agent, but other jurisdictions require that a business entity designate a third party as its registered agent.
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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