A South Dakota Registered Agent plays a vital role in your business's compliance – explore its importance further.
Prior to starting a limited liability company (LLC) in South Dakota, you’ll need to appoint a registered agent. But what is a registered agent? What are they required to do, and who can be one?
The term registered agent refers to an individual or business that is designated by the LLC to receive important legal documents on behalf of the company. This position is essential to ensure that the correct people within an LLC are notified in person when there are time-sensitive events, such as service of process for lawsuits. The registered agent also receives important notices from the state, such as garnishment notices against employees, a notice of annual reports, and tax notifications.
According to South Dakota law (SDS 7-20-16), a registered office must be an actual street address or rural route box number in the state.
Each LLC must have and continuously maintain a registered agent in the state. The agent may be either an individual resident in this state whose business office is identical with the registered office, or a domestic corporation or a foreign corporation authorized to do or engage in any business in this state, or a domestic limited liability company, or a domestic limited liability partnership, having a business office identical with such registered office.
Although it may seem like the easiest option is to be your own registered agent, there are some compelling reasons to instead consider hiring a service to act as a registered agent. These include:
You must name your registered agent when you complete the official paperwork with the state to form your LLC, so you need to decide who your registered agent or registered agent service will be before you begin that process. Of course, you need to be sure to inform whomever you’re appointing and get their permission to serve in that role.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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