Get the AZ M002.003 2014-2020

I'm Gina Morrissey and in this video I want to talk with you about a couple of Arizona state requirements for LLC's and corporations that you may not be aware of if you haven't yet formed your business entity the first requirement is that every Arizona LLC and corporation must appoint a statutory agent who maintains a physical street address in the state of Arizona secondly every Arizona LLC incorporation is required to list a physical business address in Arizona which means that you cannot use APO box it's important to note that the addresses for both the statutory agent in place of business are listed in the public records for the corporation which means that they can be searched and located by anyone this requirement can often create issues for business owners which I'll explain but first let's talk about what a statutory agent is and what function the agent serves a statutory agent is the person or business who will accept service of process for the company which means that if someone Sue's your company the process server will give the legal summons and complaint to the company statutory agent the statutory agent is also responsible for accepting other types of legal notices addressed to the company but service of process is most important Arizona state law says that a statutory agent can be any person including the owner of the company who resides in Arizona and maintains a physical street address at which the person is available during normal business hours or a statutory agent can be a company that's formed in Arizona or legally registered to do business in Arizona and that company must also maintain a physical street address and the company or someone from the company must be available at that address during normal business hours although the owner of the company can act as a statutory agent there are a number of reasons why many owners choose to appoint a third-party agent for their company a few of those reasons are well first today's businesses are increasingly mobile and many people run their companies out of their personal residence for the most part so in those situations for safety and privacy reasons those business owners may not want their personal residents shown on the public records as the place of business for their company even if you're doing business in a small retail or office space you may not want to run the risk of being served with a lawsuit in front of your patrons or staff and finally many people would prefer to have an attorney act as their statutory agent because their attorney will not only provide them with a copy of the lawsuit or complaint or other legal notice but the attorney can also provide guidance to the owner to let the owner know what he or she needs to do to address this issue these issues also apply to the registered place of business requirement since you're also required to provide a physical street address that will be disclosed on the public public...