On this page, you’ll learn about the following:
- North Carolina Registered Agent Requirements
- How to Choose a Registered Agent?
- What to Consider When Choosing a Registered Agent
- North Carolina Business Laws for Registered Agents to Note
North Carolina Registered Agent Requirements
There are certain requirements to fill the role of a North Carolina 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 North Carolina, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource to a North Carolina registered agent service. You can elect your registered agent online through the North Carolina 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 North Carolina.
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.
North Carolina Business Laws for Registered Agents to Note
If one wishes to form an LLC in North Carolina, knowing all the legal requirements is a must. We have enlisted all the Business Laws that apply to the LLCs in North Carolina. As a registered agent, one must be aware of the legal requirements & Business laws applicable to the LLCs in North Carolina.
The most relevant Business Laws for the LLCs are:
North Carolina Antitrust Laws:
The Antitrust Laws are implemented in North Carolina to foster Economic Competition. The Antitrust Laws are a tool to Curb Unfair Trade Practices. Antitrust Laws curb anti-competitive practices prevailing in the open market. These laws charge heavy penalties & strong punishments for any anti-competitive practices.
In North Carolina, the Antitrust laws often target unlawful business practices leading to higher prices, fewer choices, or lessened innovation for consumers. These laws prohibit: a) agreements among competitors to fix prices or allocate customers, b) illegal monopolization by firms that are at a leading market position, c) any type of tying & exclusive dealing arrangements, d) mergers & acquisitions which may lessen the competition,& e) price discrimination between competing purchasers.
The time limit to file any claims under Antitrust Laws is 4years. If the plaintiff successfully proves the violation, the plaintiff has a right to recover the attorney’s fees.
North Carolina Civil Statute of Limitations Laws:
Every claim has a limit on the duration in which it can be filed; this limit on the duration of filing a claim is called Limitation& is governed by the state’s limitation laws. The time limit given for each such claim differs as per the type of claim.
The following table enlists the limits mentioned under North Carolina’s Civil Statute of Limitation Laws:
|Cases||Time-Limit on claim|
|1. Injury to a person||3 years|
|2. Libel or Slander||1 year|
|3. Fraud||3 years|
|4. Injury to Personal Property||3 years|
|5. Professional Malpractice||2 years or more|
|6. Trespass||3 years|
|7. Collection of Rents||3 years|
|8. Contracts (Written)||3 years|
|9. Collection of Debt on Account||–|
|10. Judgements||10 years|
North Carolina Interest Rate Laws:
Although many states in the US have adopted laws limiting the amount of interest any creditor may charge (usually referred to as usury laws), most of the time, the consumers waive off these limits on the interest rates. The highest interest rate allowed on any credit in North Carolina is 8 percent. Still, these same laws explicitly mention allowing the “contract for a higher rate” by consumers & creditors. Also, there is no statutory limit on interest rates of mortgage loans, equity lines of credit, & a few other types of credits.
The interest rate laws enumerate the following essential points:
- Maximum Legal (or allowed) Rate of Interest: 8%, contract for higher rate allowed if under $25000, over $25000 – contract for any rate is permitted.
- Penalty for Usury: Forfeiture of all interest & the party paying the interest has the right to recover double interest.
- The interest rate on Judgments: 8% or the rate decided via a contract.
- Exceptions: no statutory limit on interest rates of mortgage loans, equity lines of credit, & a few other types of credits.
North Carolina Deceptive Trade Practices Laws:
Many state laws mostly have laws that prohibit trade practices that might deceive consumers. There is Uniform Deceptive Trade Practices Act, but North Carolina does not adhere to it. North Carolina has Deceptive Trade Practices Laws.
Some of the significant provisions of Deceptive Trade Practices Laws are listed below.
- Relevant Code Section: North Carolina General Statutes Chapter 75: Monopolies, Trusts & Consumer Protection
- Prohibitions under Section 75-1.1: Unfair methods of competition in or affecting commerce, Unfair or deceptive acts or practices in or affecting business.
- Who has a right to file a suit? Any aggrieved consumer can file a lawsuit against the violator & the State Attorney General can file a civil prosecution.
- Remedies: The remedies offered by the Court depend upon the facts & circumstances of each case. A few of the remedies offered by the Court under North Carolina Deceptive Trade Practices Laws are
- A Permanent or temporary restraining order
- A permanent or temporary injunction
- Restoring property & amount of the victim that was given to the defendant
- Canceling a contract between the victim & defendant
- Civil Fines up to $5000 for each violation
- Treble damages (thrice the amount granted in the original verdict as to damages) to the victim in the specified circumstances
- Attorney’s fees to the party that wins the lawsuit.
How to Remove a Registered Agent for LLC in North Carolina
A registered agent for LLC in North Carolina can be removed by filing a Statement of Change of Registered Office and/or Registered Agent with the North Carolina Secretary of State by paying a filing fee of $5.
If you’ve created an LLC in North Carolina, you might be wondering how to remove a registered agent from the business. There are specific rules for this process. If you want to change registered agents, you can do so online, by mail, or in person. While it may sound complicated, the process is actually fairly simple, and you can usually do it yourself. You can choose a person close to you, or someone who has a business address in the state of North Carolina. Even family members can serve as registered agents for their own businesses.
The simplest and most affordable way to change your registered office is by filing a Statement of Change of Registered Office and/or Registered Agent with the North Carolina Secretary of State. You can file this form online or by mailing a paper copy to the SOS. You will need to pay a filing fee, which is not a lot. Make sure you fill out the form completely and check it before submitting it.
An LLC is required by North Carolina to designate a registered agent. This person accepts legal documents for the LLC and forwards them to the owners. The Registered Agent must be a resident of North Carolina over the age of 18. You can designate a corporation or nonprofit organization to act as your registered agent. The purpose of hiring a registered agent is to protect your business from being sued by the public. A registered agent is an important part of an LLC. A good registered agent should be 100% accurate and efficient.
Before changing your registered agent, make sure you have the necessary information to be sure that everything is properly recorded. You’ll need to obtain the names of the new agent and the business address. Be sure to get a signed copy from your new agent. You may have to contact the state’s Secretary of State to make the switch, but it’s not a difficult process. You can also serve as your own registered agent if you wish.
Before filing for an LLC, it is important to get the correct forms and budget for the fees. The costs of filing an LLC will vary between in-state and out-of-state entities. Federal guidelines regarding LLCs are constantly changing. It’s wise to check with your attorney to be sure you’ll get the legal advice you need. For example, if you’re filing an LLC in North Carolina, you’ll need to select a registered agent that is licensed in the state where you’ll operate. You’ll need to pay the fee, and then dissolving the business is the next step.
If you’d like to change the registered agent for your LLC, you’ll have to submit a form to the Secretary of State. You can either file your form online or send it via mail. The address for filing is provided on the form. In either case, you’ll need to pay the filing fee of $25. If you’re changing a registered agent, it’s worth the extra time and hassle.
All corporations and limited liability companies doing business in North Carolina are required by state law to appoint a North Carolina registered agent. North Carolina 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 North Carolina 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.