Forming An LLC

How can Safe Shield help form a LLC?

Safe Shield is sought by many businesses who desire to cut their liabilities and succeed in their fields. Our service implements a three-step process in order to initiate your business safely and successfully. Through experienced guidance by our business formation experts, you can rest assured that your financial and personal investments will be protected and organized in such a manner that will ensure profitability.

In establishing your LLC, Safe Shield will assist you in the preparation and filing of the Articles of Organization with the respective Secretary of State. In addition, we will search name availability for your LLC. Safe Shield will prepare your Operating Agreement as well as all of the other necessary foundational documents, while also offering a number of other important personalized services that will benefit your company. After the filing of the documents, your LLC will then be recognized as a legitimate business entity by the state.

Registration of your LLC’s name

Selecting a name for your business is the initial step in the proper formation of your Limited Liability Company. The name that you select must bear the words “Limited Liability Company” or the initials “LLC”. If the company is registered in a language other than English, you must use words or initials of the same meaning. It cannot bear any of the following words: “Corporation”, “Incorporated”, “Limited Partnership” or the initials “Corp.”, “Inc. or “LP”. It must never bear any word or group of words that is not allowed by the existing law for the said LLC. Your chosen name must also be distinguishable in the records of the secretary of state from all of the following:

  • The name of any other Limited Liability Company, Limited Partnership, or Corporation. Nor can it be identical to a previously registered foreign LLC, Limited Partnership, or Corporation.
  • A name authorized by the existing state laws.
  • The false name used by an overseas company, “Foreign Limited Partnership”, or “Foreign Limited Liability Company” that has been given the authority to conduct business because its actual name is not available.

With the help of Safe Shield, you can choose the names you would most like to use. It is also very important to check for the availability of the names first. Safe Shield will search the possible names of your Limited Liability Company before filing. And, after you have chosen a particular name, Safe Shield will assist you in registering the chosen name with the state.

Requirements in forming your LLC

For all LLC formations, the Articles of Organization are required to be filed in the office of the Secretary of State. Law requires that the following information is included:

  • The name of the company
  • The company address
  • The registered agent’s name and address (optional)
  • The complete Registered Office address of the company
  • The time frame for the LLC’s existence (you may list an expiration date, or the duration may be perpetual)
  • The name and address of the organizer
  • Additional provisions as chosen by the Members (Owners) of the LLC.

Filing your LLC

Your LLC is legal and official when the Articles of Organization are filed by the Secretary of State, and they are determined by that office to meet all state laws.

The document must be signed by the organizer of the LLC, as specified in the document. The company will then receive a certified copy of the Articles of Organization, as well as a Certificate of Organization. Once the Articles have been approved by the Secretary of State’s office, the organizer must hold a meeting to appoint the Board of Governors and pass other important resolutions.

When forming a LLC, there are other matters regarding organization that must be followed. The rules that apply are as follows:

  • The organizer can be any person natural to the United State that is over 18 years old and the person does not necessarily need to be a member of the organization.
  • LLCs require that at least one person or business is listed as the organizer, however additional organizers may be included.
  • The organizer may be an individual, a corporation, a Limited Liability Company, a government or governmental agency, a business trust, an estate, a private trust, a partnership or association, or any other entity considered legal.

A member is essentially an owner or co-owner of the LLC. Any legal entity can become a member by obtaining a share in the LLC at the time of its formation or within the span of time provided in an operating agreement. A member must also be in compliance with any requirements of the Operating Agreement. The member must also include a contribution or subscription agreement for membership that will be included in the LLC records.

Members are also allowed to resign from membership; however there are some restrictions on how this may be done. The Operating Agreement is crucial to define the terms of any possible resignation. Any member has the right to resign from membership when the process is laid out clearly. If there is not a specified process for resignation, the member will not have the right to resign. In some instances, even with an Operating Agreement members may be prohibited from withdrawing based on the agreement, or at the very least be subject to stringent withdrawal guidelines.

It is necessary that all members join to create a legal document called an Operating Agreement that includes all terms of any agreement. The document can be revised or changed at will if it is done so in writing with the agreement of all members. However, all changes must comply with all state laws.

There are other requirements concerning membership, minimum numbers, requirements for eligibility, and the actual process of securing membership in which Safe Shield will assist. Safe Shield will ensure all requirements are met and make it simple for the LLC to be established and operate successfully.

In the matter of member contributions to the LLC, any member may contribute cash, property, services, promissory notes, or some other binding promise to provide cash, property, or other good and valuable considerations, or to render any services.

Other Safe Shield Services for LLC’s

Safe Shield can help provide your LLC with a Registered Agent. While a Registered Agent is not required, it is important that all LCCs have an agent duly registered with the state. This agent is the individual authorized to receive letters, correspondence, and notices coming from the state including court documents.

Safe Shield is also pleased to inform you about any continuing obligations set by the respective state. This would include information about all required record keeping according to state law.

The state requires certain records to be kept that are available for inspection at the Registered Office of the LLC. The records must include:

  • An up to date listing of each member, governor and officers including full name, business address, and mailing address
  • An up to date listing of each individual with financial rights including description of rights, full name, business address, and mailing address. Secured parties are not required to be included.
  • A copy of the Articles of Organization that includes any amendments made
  • A copy of any Bylaws or Operating Agreement currently in effect
  • A copy of the LLC’s federal, state, and local income tax returns. There must be returns for the previous three years
  • All financial statements
  • A complete record of any proceeding of each member
  • A complete record of any proceeding of the board of governors
  • Any general reports made to members
  • Any Member Control Agreements
  • A contribution statement of any contributions
  • A formal explanation of any restatement of value
  • Any written consents received from members
  • Any written consents received from governors
  • A copy of all agreements, contracts, or other arrangements made

Business Formation With Safe Shield

To learn more about how Safe Shield can aid you with Business Formation, Ongoing Management Compliance, or any of the other services that we provide, we encourage you to schedule a phone call with one of our experts!