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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Independent Directors, Managers, And Springing Members:  What Are They?

January 19, 2017 Registered Agent Something

Lenders may require independent personnel and independent manager to serve on boards of single purpose entities (SPE’s).  SPE’s are created to protect assets in large real estate transactions. Independent personnel also play a critical role for an entity in distress. An Independent Director  is a member of the board of directors of a company who does not form part of the executive management team.  They are not employees of the…READ MORE

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Registered Agent Questions And Answers

October 20, 2016 Registered Agent Something

In practice, there are some significant advantages to enlisting an outside party to accept service of process and other legal and tax documents on behalf of your business. So what does your Registered Agent do for you and why do you need one? Say for example your trusted employee is out of the office on a day that a process server arrives. Would another employee know what to do with the documents? Remember that failure of a summons to…READ MORE

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First Corporate Solutions CEO Contributes to the Sacramento Bee Investigative Report on Corporate Transparency

June 08, 2016 Registered Agent Something

In its June 5 Sunday edition, the Sacramento Bee published the investigative article Intrigue, offshore connections to Sacramento in ‘Panama Papers’ leak (see quotes below from the article). While First Corporate Solutions (FCS) is featured as a Sacramento-based service company, the investigation’s focus centers on the shortcomings and lack of transparency in the US corporate law system. It also confirms that FCS has done nothing wrong,…READ MORE

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What If I Don’t Assign a Registered Agent for My Entity?

June 25, 2015 Registered Agent Something

A business that does not select a registered agent may risk falling out of "good standing" with the state in which it is registered. Penalties can include license revocation, fines, and the inability to enter into legal contracts and/or gain access to the state court system. Also, reinstatement proceedings could include further civil penalties and possibly criminal sanctions as well. If you try to file without a registered agent your filing…READ MORE

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Can I Be My Own Registered Agent or Have a Family Member Be My Registered Agent?

June 18, 2015 Registered Agent Something

The short answer to this question is Yes, but perhaps it is not the best answer. While it is usually possible in most states to legally serve as your own registered agent (or appoint a friend/family member), it is advisable to designate a third-party to perform this important role. By having someone else responsible for the receipt of your legal and tax documents, you can have the peace of mind that someone will always be available to…READ MORE

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What Does Your Registered Agent Do For You And Why Do You Need One?

June 11, 2015 Registered Agent Something

If you do not reside in a state where your entity is qualified to do business, then most states require you to have a registered agent* to accept documents on your behalf. The state where your entity is registered needs to know they have a contact person for your business at all times (PO Box is not an acceptable address for registered agents). Your registered agent is responsible for receiving important tax and legal documents, such as…READ MORE

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Why Name an Outside Party as Registered Agent?

May 21, 2009 Corporate, Registered Agent Something

In these tough economic times, many people are asking, “Why would I incur the cost to name a service provider as registered agent for my business? Why not just name one of my employees?” In practice, there are some significant advantages to enlisting an outside party to accept service of process and other legal and tax documents on behalf of your business. Consider the following: If your trusted employee is out of the office on…READ MORE

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