On this page, you’ll learn about the following:
Minnesota Registered Agent Requirements
There are certain requirements to fill the role of a Minnesota 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 Minnesota, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource to a Minnesota registered agent service. You can elect your registered agent online through the Minnesota 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 Minnesota.
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 the best LLC services on our list that will provide you with registered agents to ease your worries.
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.
Minnesota Business Laws and Registered Agent
Registered agents are responsible to handle all the business laws and other legal issues related to Minnesota LLC. Every state has its own business laws. Minnesota is no exception. It has its own set of different business laws to follow. Here are some of the important business laws every business should follow.
- Minnesota Deceptive Trade Practices Laws: The State of Minnesota aims to protect its residents from unfair business practices. Such practices mislead the consumers into investing in invaluable market products by selling them with twisted statements and lies such as false advertising. The laws specifically prohibit false advertising and odometer tampering. Any such tampering activity shall be considered as Gross misdemeanor and compensation can be awarded in form of actual damages, costs, and disbursements, attorney’s fees. The Court also has the discretion to award an amount for damages not to exceed three times active damages of $1500, whichever is greater.
Minnesota has adopted the Uniform Deceptive Trade Practices Act. The State laws expressly prohibit the selling of goods or services below cost, misleading consumers about the quality of items, unfair cigarette sales, monopolization, and unreasonable restraint of trade by hatching conspiracy with other competing businesses. The remedies available to Plaintiff include Injunction, court costs, and attorney’s fees.
- Minnesota Antitrust Laws: Antitrust laws regulate and prevent anti-competitive practices in any open market by levying heavy penalties and punishment against such activities. These laws counter the formation of cartels, monopolies, or any barrier created for new entrants in the market.
The Minnesota Antitrust Law of 1971 prohibits practices involving unreasonable restraint of trade or commerce, monopolistic behavior, discriminatory actions, quantity fixing, price-fixing, etc. The time limit to enforce such claims is 4 years. The State also allows a successful attorney to recover the attorney’s fees.
The penalties in such cases include felonies, imprisonment up to 7 years in prison, and/or fine up to $50,000.
The Registered Agents are the people who act as points of contact between your business and the State Authorities. They assist your business in ensuring compliance with all regulations and codes of the State. Hiring a registered agent in Minnesota will help you handle your business in a smooth and legally compliant manner.
How to Remove a Registered Agent for LLC in Minnesota
A registered agent for LLC in Minnesota can be removed by submitting a Notice of Change of Registered Office/Registered Agent with the Minnesota Secretary of State with a filing fee of $35 for mail filing and $55 for online or in-person filing.
How to Remove a Registered Agent for an LLC in Minnesota? The first step in removing a Registered Agent is to contact the Secretary of State’s office. In some states, if you fail to respond to a lawsuit, the SOS may revoke your LLC’s status. Failure to do so can lead to a default judgment and dissolution of your LLC. To prevent this, you can use a registered agent service.
To change your LLC’s registered agent, file an amendment form with the Minnesota Secretary of State. Alternatively, you can change your agent by changing your company’s name. In either case, you must file an annual report and change your authorized representative’s contact information. Make sure you provide a new email address and phone number. If you’re moving a registered agent to a new location, you need to change the address on your Minnesota LLC’s official website as well.
If you’ve moved to a new state and want to change your registered agent, you can do so by submitting a Change of Registered Office/Registered Agent form with the Minnesota Secretary of State. You can file your change online or by mail, depending on your needs. In case of limited liability partnerships, you can also file amendment documents with the Minnesota Secretary of State’s office. Both of these forms require a $20 filing fee.
To remove the agent from your LLC, you must file a change of agent form with the Minnesota secretary of state. If you’re not planning to dissolve your business, then it’s best to appoint a new agent for the business. It should take a couple of days. The Minnesota secretary of state will require a copy of a signed statement and a credit card. If you’ve changed your agent, you need to pay $55 to replace the agent.
Another step in removing a Registered Agent for an LLC is to make sure your business name is available. Some names are restricted or may require additional licensing or documentation. Minnesota has specific rules for naming companies. If you don’t intend to use a website, make sure you reserve a domain name in case you want to use it in the future. You can then use this name for your webpage or business name.
Once you’ve decided to sell your business, you’ll need to notify the state’s office that you have sold the company. This means filing Articles of Amendment, Statement of Information, or a notice of ownership change. If the business is sold, you’ll need to get all the LLC’s members’ consent first before you can sell the business. Remember that removing a Registered Agent will require additional legal fees, and will cause you to lose liability protection.
You may choose to list yourself as a Registered Agent in Minnesota. If you don’t have a physical address in Minnesota, you can list a friend’s home address. The key advantage to this option is that you’ll be available during business hours. Alternatively, you can list a Commercial Registered Agent. In either case, you’ll pay $119 a year. However, if you’re not able to find a friend or family member who is willing to serve as your Registered Agent, you may want to consider the latter option.
All corporations and limited liability companies doing business in Minnesota are required by state law to appoint a Minnesota registered agent. Minnesota 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.
Before you choose a registered agent for your Minnesota LLC, compare their price and services from the table. They will be responsible for all your documentations, filings, and other LLC-related tasks. Hence, choose the best one for your business that provides 100% accurate service at a reasonable price.