Role of a Registered Agent
A registered agent is an individual or entity appointed to receive legal notices on behalf of a business. Their primary function is to receive a summons and petition on behalf of the corporation should it be sued.
Requirements to Serve as a Registered Agent
Key requirements to serve as a registered agent include being 18 years old or older, possessing a physical address in the state of registration, and being available during regular business hours.
Benefits of a Registered Agent
Using a third-party service provides protection and convenience, with costs typically ranging from $125-$300 per year. Additionally, some service providers include registered agent services for free in LLC packages.
Difference Between a Registered Agent and an LLC Member
A registered agent acts as the intermediary between the state and the business, maintaining a physical address in the state and being available during business hours to receive information and legal correspondence.
Legal Requirements in Indiana
Most Indiana businesses are legally required to have a registered agent who accepts legal documents and state notices on the company’s behalf. The agent must have a physical address in Indiana and be available during business hours to receive information.
Importance of a Registered Agent in Indiana
Appointing an agent in Indiana is mandatory as per state law to ensure there is an official contact for documents, including time-sensitive legal and tax details for the corporation. The agent must provide written consent to serve.
Setting Up a Business in Indiana
When starting a business in Indiana, domestic corporations and LLCs must pay a fee of $75 online or $90 on paper. It is essential for all business entities to maintain a registered agent continuously.