If you are trying to form an LLC in Georgia, then take note that in this state, how to start an LLC requires having a Georgia registered agent who will handle all official paperwork on the LLCs behalf.
On this page, you’ll learn about the following:
Georgia Registered Agent Requirements
There are certain requirements to fill the role of a Georgia 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 Georgia, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource a Georgia registered agent service.
You can elect your registered agent online through the Georgia 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 Georgi.
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.
Our Rating & Pricing
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$49 + State Fees
$299 + State Fees
$399 + State Fees
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.
Georgia Business Laws for Registered Agents to Note
While starting an LLC in Georgia, it is important to know about the business laws in Georgia. 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 Georgia to note,
- Interest Rate Laws: In Georgia, like any other state in the United States, the interest rate law is applicable. According to state laws, the maximum threshold of the interest rate is 7% if not written. Any interest rate charged above 7% should be in a written contract. Interest rates can be changed or increased in the following manner,
- 7% maximum if not written on any loanable amount
- Up to 16% if written on up to $3000 or less
- No upper limit of interest rate if the loanable amount is from $3000 to $250,000
- The rate of interest should be written and simple interest.
In case of unlawful interest rate charge or violating any of the above-mentioned rules is a punishable offence. The entire interest amount can be forfeited if the law is violated. Small Industrial Loans are excluded from these rules.
- Anti-trust Laws: Georgia adopted Anti-trust law in the state according to the Federal Anti-trust law. State laws are subjected to change from time to time. However, currently, in Georgia, only private lawsuits can be filed for Antitrust violations. There is no such strict rule or time span within which the case should be brought up. According to the Federal Antitrust Laws, violating trust or trying to limit competition by creating an illegal monopoly/cartel gets the corporation in jail for 10 years. Alongside they might have to pay a fine of $100,000,000.
- Deceptive Trade Practices Laws: Georgia State has adopted the Deceptive Trade Practice Law to prohibit any customer misleading act in the state by the seller. Under this law, a lawsuit can be filed if attempting any of the following points,
- False claim of the product when it is own by someone else
- False claim of used products as brand new
- False claim of quality of products
- False claim of the sale price of a product.
Violating rules will bring some fines and imprisonment for the accused. The civil penalty can go up to $25,000 as a fine. On the other hand, for intentional damages, the fine starts from $100 and goes up to $1000 or/and jail up to 20 days. For tampering Auto Odometer, the fine can be triple the damage or $1500, whichever is more and the attorney’s fees should be paid by the violator.
- Civil Statute of Limitations Laws: Statute of Limitation is the time limit plaintiffs get to bring a claim. There are a number of claims that plaintiffs can bring within a stipulated time limit. Following are the cases and time limit to bring the claim,
- Injury to the person – 2 Years
- Injury to the personal property – 4 Years
- Fraud – 2 Years
- Any professional malpractice – 2 to 5 years for medical professionals
- Written contracts – 6 Years
- Oral contracts – 4 Years
- Trespass – 4 Years
- Judgment – 5 Years
- Collection of Debt – 4 Years
State laws are subjected to change over time. These time limitations are currently existing under this law. This can be changed in the future.
All corporations and limited liability companies doing business in Georgia are required by state law to appoint a Georgia registered agent. Georgia 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.