On this page, you’ll learn about the following:
Illinois Registered Agent Requirements
There are certain requirements to fill the role of an Alabama registered agent:
- The nominee must be more than 18 years old.
- The individual must have a legal, physical address in the state where the LLC will operate.
- The individual must be physically present during normal working hours.
How to Choose a Registered Agent?
When you file your Certification of Formation in Illinois, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource an Alabama registered agent service.
You can elect your registered agent online through the Illinois Secretary of State website.
Hiring an Inhouse Registered Agent
When hiring an in-house registered agent, make sure the individual is over 18 of age and lives in Alabama.
Can I be my own registered agent?
Yes, you can be your own registered agent. So long as you meet the basic requirements for a registered agent, then you can take on this role for your LLC.
Outsourcing a Registered Agent
You may, instead, get professional registered agent services. Doing so ensures that you will have the best individual to represent your business. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries.
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Note that availing of the services of professional registered agents would be your best option since you are guaranteed that whoever is handling your legal affairs knows their stuff well. You will enjoy peace of mind and focus only on running your business, as the ‘professionals’ take care of all legal matters.
What to Consider when Choosing a Registered Agent
Here are some factors to consider when choosing a registered agent.
- Service Fee: Since most states require formal businesses to have registered agents, selecting the best-registered agent is critical. Hiring a registered agent service typically costs between $50 and $300 annually. When you consider how much time it will save you, this is a small price to pay.
- Tenure in Business of Registered Agent: You want the registered agent to have established and time-tested procedures for handling documents that are received.
- State Jurisdiction Limitation: If your company expands to another state, you should use the same registered agent in all states to reduce the administrative burden of dealing with multiple registered agent service providers.
- Offer Monitoring and Follow-up Services: You want to receive up-to-date information and alerts from your registered agent as soon as possible so that you are aware of the various statutes, rules, and regulations that apply to your company.
Illinois Business Laws for Registered Agents to Note
While starting an LLC in Illinois, it is important to know about the business laws in Illinois. The following business laws are applicable to every business in the state. Registered agents help LLCs to understand the laws and keep them updated about these laws. Following are the business laws in Illinois to note.
- Illinois Antitrust Law: Antitrust regulations prevent big mergers that their respective state attorneys believe hurt consumers by limiting choice. Illinois antitrust laws are seen in the Illinois Antitrust Act, which supports federal antitrust laws. Federal antitrust laws forbid any act of restraining trade while also limiting the ability of large corporations to do acts that would restrict competition.
The Sherman Act charges a fine ($100,000,000 if a corporation) and a 10-year prison sentence for an illegal “trust or conspiracy, in restraint of trade or commerce.”
A private lawsuit can be filed against a party for an alleged antitrust violation while a federal action is pending. The antitrust laws of Illinois allow plaintiffs to bring private lawsuits against companies and make it possible to recover attorneys’ fees.
- Illinois Corporations Laws: Once you’ve decided what type of corporation you’re creating, whether S-corporation or C-corporation, you will need to select the individuals you would like to have on your board ofdirectors; then, you will need to draft and file your corporation’s Articles of Incorporation. In Illinois, this is known as “Form BCA 2.10.” After filing the Articles of Incorporation, you need to obtain a business license and other permits that might be required for your business.
- Illinois Deceptive Trade Practices Laws: Manufacturers or retailers engage in deceptive trade practices when they spread disinformation, make false claims, or use other misleading tactics to entice sales.
The Illinois deceptive trade practices law follows the Uniform Deceptive Trade Practices Act and allows state attorneys and private parties to file suit.
Contact a consumer protection office near you if you think a business is engaging in deceptive practices. The office can provide information about ongoing consumer scams and investigate and prosecute scammers under criminal statutes.
- Illinois Interest Rates Laws: Consumers regularly agree to waive those limits and pay higher rates by clicking “I agree” online or signing a printed contract, regardless of statutory limits of interest rates. The Penalty for Usury (Unlawful Interest Rate) is twice the total of all interests, charges, attorney’s fees, and court costs.
- Illinois Securities Fraud Laws: Both the Illinois federal and state laws control the crime of securities fraud. The crime involves engaging in any deceptive practice dealing with the sale of securities. These crimes include dealing in securities despite not being a registered dealer or dealing in securities issued after September 6, 1955, and not being registered or having a permit to do so.
It can be committed when a corporate officer or director misrepresents, withholds, or distorts information relating to a company’s stock (i.e., its value) or an officer unlawfully discloses that information and an individual or entity acts unlawfully on that disclosed information. The department registers those who offer and sell business opportunities, securities offerings, investment advisers and salespersons and representatives, broker-dealers, business brokers, and loan brokers.
- Illinois Security Deposit Laws and Deadlines: A security deposit is money a tenant pays to a landlord to cover damage or clean rental property. In Illinois, the amount that a landlord may charge as a security deposit has no limitation. Landlords may also charge deposits in case of damages or as an advance payment on last month’s rent. The landlord must return the security deposit of a tenant within 30 to 45 days after moving out.
How to Remove a Registered Agent for LLC in Illinois
Changing the registered agent of an LLC in Illinois may seem like a daunting task, but it doesn’t have to be. By following these tips, you can change your registered agent within the state in no time. First, collect the name and street address of the previous registered agent. Getting this information is very important before completing the change. If you can’t find it, you can also mail or drop off a check in person.
Once you’ve gathered all of the relevant documents, you’ll need to submit a Statement of Change of Registered Agent in Illinois to the Secretary of State. You can pay for this service with a credit card or check. The instructions provided will guide you through the process. Once you’ve completed the process, you can change the address and contact information on your company’s website. Using a registered agent service can also be a good option, as these services offer the convenience of periodic filings.
You should be aware that every limited liability company is required to designate a registered agent. This agent can be a former employee or co-owner, or even a professional service. In the latter case, the change is the easiest and fastest method, but the cost is significantly higher. You can have your new registered agent set up within a single day, with expedited fees. Once you’ve gotten everything set up, you’re ready to change your registered agent.
All corporations and limited liability companies doing business in Illinois are required by state law to appoint an Illinois registered agent. Illinois registered agents provide a reliable way for the Secretary of State and state courts to contact a corporation or LLC.
A registered agent is simply a person or entity appointed to accept service of process and official mail on your company’s behalf who lives in the state of service and is over 18.
If you intend to be your own registered agent, you may be forced to use your home address (especially if you run a home-based or web-based business), making the address public.