If you are trying to form a South Dakota LLC, then take note that in this state, starting an LLC requires having a South Dakota registered agent who will handle all official paperwork on the LLCs behalf.
On this page, you’ll learn about the following:
South Dakota Registered Agent Requirements
There are certain requirements to fill the role of a South Dakota 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 South Dakota, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource to a South Dakota registered agent service. You can elect your registered agent online through the South Dakota 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 South Dakota.
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.
South Dakota Registered Agent and Business Laws
Registered agents are responsible for all aspects of South Dakota LLC business law and legal issues. Each state has its own set of business laws. South Dakota is no exception. Each state has its own set of business laws. These are the most important business laws that every business should adhere to.
- Interest Law: Every state has an interesting law for businesses. The general interest rate guidelines are usually lower than the legal threshold for interest rate. This is because most businesses agree to higher interest rates. South Dakota has interest rates of 15% on sales and 12% on judgment. South Dakota does not have Usury Law. This law charges a higher interest rate for advances and loans. The legal guidelines apply to this interest rate. South Dakota’s regular rate is 15% and there are some leverages on loans below $5000.
- Antitrust Law: In general, Antitrust law is used to detect the formation of cartels in any market. A cartel is formed when competitors join forces and have an illegal influence on market price or supply. Cartels are illegal on any market. South Dakota has an Antitrust Law, just like in other states.
South Dakota’s statute of limitations for bringing a claim under this law allows you to do so within 4 years. This law also allows a plaintiff to recover the attorney fees and other damages.
- Deceptive Trade Practice Law: South Dakota doesn’t have a Deceptive Trade Practice Law. It does however have penalties for trade fraud and other deceptive acts in the state. The case can be raised by any attorney general. You could face a fine of up to $2,000.
- Civil Statute of Limitation Laws: The Civil Statute of Limitations Laws in South Dakota is the same as in other states. This law allows for up to 6 years imprisonment. There is a time limit within which you can file a lawsuit. Failure to file a lawsuit within the time limit can result in penalties and other actions.
- Wage and Hour Laws: In South Dakota employees who are above 18 years must be paid a minimum of $8.85 per hour. Workers who are below the age of 18 should be paid a minimum of $7.75 per hour. South Dakota Department of Labour Regulation can file a case against the employer on behalf of the employee if they violate the law.
- Pyramid and Ponzi Schemes Laws: In South Dakota, attempting an investment fraud can lead to up to 5 years of imprisonment and a fine of up to $10,000. Under this law, anyone attempting investment fraud such as paying existing investors with the money taken from new investors might be punished.
These cases and laws are taken care of by registered agents. A registered agent in South Dakota can help you manage and deal with all of these business laws.
How to Remove a Registered Agent for LLC in South Dakota
A registered agent for LLC in South Dakota can be removed by filing a Statement of Change of Registered Office or Registered Agent or Both with the South Dakota Secretary of State with a filing fee of $10.
Are you wondering how to remove a Registered Agent for your LLC? There are two simple steps to this process. The first is to locate an alternate name. This can also be called a fictitious name or a “Doing Business As” name. Your name must be available and comply with the requirements of South Dakota. For example, it should not contain any words or phrases relating to financial institutions or business entities.
The second step in this process involves modifying the operating agreement of your LLC. Your LLC’s operating agreement outlines the rights and responsibilities of the members and managers, and it provides a succession plan. The operating agreement must be updated to reflect the new agent. You can remove a registered agent as long as the operating agreement is updated. Otherwise, you will have to change your registered agent again in South Dakota.
In some cases, the owner of the LLC may decide to remove their appointed registered agent and use an associate or local business entity. While this is acceptable in most cases, it may become difficult if the LLC owner decides to expand beyond the state. If this happens, removing the registered agent is the next best step. However, it is important to remember that the registered agent must be available during normal business hours to respond to letters and legal documents.
Choosing a name for your LLC is one of the most important steps when setting up an LLC in South Dakota. However, a registered agent will also assist you in dealing with the business laws of South Dakota. You should also be sure to check whether the name you want to use is already taken. This way, you won’t have to worry about a conflict of interest between the owner and the registered agent.
As an owner, you should consider whether you want a registered agent for your LLC in South Dakota. These agents will act as the contact point between the company and the state. If you have concerns or questions, you should contact the South Dakota Secretary of State and ask them to delete your registered agent. Remember that it is important to follow the deadlines for filing documents. Ultimately, you should choose a registered agent who is available to help you with your business needs.
As the owner of an LLC, you should know that your name and address must match. Your registered agent must be available to answer calls during standard business hours. When you want to remove a registered agent, you should make sure to include the name of the company’s owner or the CRA number of the agent. Make sure to provide all of the information required by the South Dakota Secretary of State and sign the document.
In order to start a limited liability company in South Dakota, you must file the Articles of Organization with the Secretary of State. After the Articles of Organization, you must select a registered agent. If you have a South Dakota registered agent, you must ensure that your business name is different from any other entity in the state. However, if you are operating a business out of another state, you will need to use an agent who is based in that state.
All corporations and limited liability companies doing business in South Dakota are required by state law to appoint a South Dakota registered agent. South Dakota 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 South Dakota 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.