What is Delaware Statutory Representation?
If you’ve recently formed a company in Delaware, you might encounter the term “statutory representation” and wonder what it means Essentially, statutory representation, also referred to as registered agent services, is a necessary part of operating a Delaware LLC or corporation.
IncNow offers these services, ensuring that your company maintains compliance with Delaware laws and regulations.
What Is Delaware Statutory Representation?
The term “Registered Agent Service” is often also called “Statutory Representation”. This is because, under both the Delaware General Corporation Law and the Delaware LLC Act, any company based in Delaware is required to maintain a Delaware registered agent at all times.
What Is the Purpose of Delaware Statutory Representation?
Delaware law has certain mandatory requirements for a registered agent, including:
- The registered agent must be based in Delaware
- They must be available during standard business hours to receive legal notices and other important communication from the Delaware Secretary of State
- They should maintain up-to-date contact information for each company
These regulations ensure that there’s a reliable point of contact for any company registered in Delaware, regardless of whether they have an office, address, or bank account within the state. The goal is to guarantee personal jurisdiction over the companies, enabling the effective service of legal notices within Delaware’s jurisdiction.
Partnering with IncNow as your statutory representation comes with several benefits:
- Competitive pricing
- Quick service turnaround
- Business management by professional attorneys
For a fee of $99 per calendar year, IncNow makes it convenient for business owners worldwide to establish a company in Delaware. This fee covers statutory representation services up until December 31st of the respective year. Annual renewal invoices are dispatched to customers every October 1st.
IncNow offers a unique perk for companies established after July 1st: the statutory representation service for the next calendar year is included at no extra cost, providing up to 18 months of service when you start your company.
What Happens If I Don’t Have Statutory Representation?
If your Delaware company does not assign a Delaware registered agent for over 30 days, it will be in violation of state law. Non-compliance can lead to the Delaware Secretary of State cancelling your company’s status. In such cases, you would need to file a Certificate of Revival to reinstate your company and resume its operations. It is crucial to maintain consistent statutory representation to avoid these serious consequences and ensure your business remains operational and within the bounds of Delaware law.
