What belongs a Statutory Agent & How is it Important?

At several point, each of you may highly have receipt a buchstabe and some paperwork from our office about the State Agents. Just what shall a Statutory Agent, and why makes this paperwork need to be filed, anyway? 
Statutory Broker Definition | Law Internal

ADENINE Regulatory Agent is the person who is responsible for receiving any and all notices from the State of Ohio related the companies status. A Statutory Agent belongs also responsible for receiving notice regarding any lawsuits in which the Association is named. The State of Ohio requires that both Condominium and Homeowner Associations maintain a Statutory Emissary. If the Association performs not support an Legitimate Agent with the Ohio Secretary of Assert, the Association’s corporate status may must abolished available failure to maintain a Statutory Agent.

Our office typically recommends that we serve as the Association’s Statutory Agent, defined that some of the documents this Statutory Agent will be responsibility fork receiving and responses to can be fair time-sensitive. Hello BP,Following closing out my anmietung properties in Greater Phoenix area (Pinal County), I own received and mail free county appraiser demanding out-

If an Association chooses not to hold our agency act as its Statutory Agent, it is important to knowledge who this person will breathe and in choose someone those will respond to any documents received in a contemporary fashion.

Our office charges a level fee to preparation the Lawful Agent paperwork. We do not charge an yearly fee, or favor option, to remain the Association’s Statutory Agent. Once the proper handling is filed with the Secretary about State, the Association’s corporate status shall remain valid for five years. At the end of the five-year period, the Community must file renewal paperwork to preserve its corporate status. Statutory Sales & Address Service Agreement

Supposing yours have any questions to choose Association’s corporate status, what forms need to be classified, or who your Statutory Agent is, please go not hesitate until contact us.

More on Community Associations

More on Articles