A Statutory Agent is an individual or a business entity that a corporation or LLC appoints for the purpose of accepting service of process (lawsuit papers or legal documents) for the corporation or LLC. The agent is called a "statutory" agent because a statute requires that the corporation or LLC appoint someone for this purpose. Other states, such as Nevada and Delaware, refer to registered agents, rather than statutory agents.
Who can be a Statutory Agent in Arizona?
A Statutory Agent can be an individual who resides in Arizona, an Arizona corporation or LLC, or a foreign corporation or LLC that is authorized to transact business in Arizona. A Corporation or LLC cannot be its own Statutory Agent.
If an individual is appointed as the statutory agent, that individual must be a permanent, full-time resident of the State of Arizona and must have a permanent, full-time physical or street address in the State of Arizona. Here is a link to the Arizona Corporation Commission FAQ for more information.
Must I have a Statutory Agent?
Yes! Every Arizona corporation or Foreign corporation or LLC qualified to do business in Arizona must have a qualified statutory agent.
Why use an Attorney as your Statutory Agent?
First, the statutory agent and address is available to the public on the Arizona Corporation Commissions website. Many people want to utilize a third party such as an attorney's address for privacy reasons such as to avoid listing your home address in the public records of the Arizona Corporation Commission.
Secondly, in the event of a lawsuit the court documents would be received by your Statutory Agent on your behalf. This could potentially avoid you being served in front of your customers and employees. Additionally, should someone think about suing the corporation or LLC they will see that an attorney is the Statutory Agent.
Thirdly, it can help you avoid fines by missing important notices about your good standing. We can scan any documents received on your behalf and will email them to the email address you prefer.
Lastly, it allows you to focus on the things you want to focus on. You don't have to worry about being available during normal business hours to receive documents. Allow our office to do this for you, by using us as you Statutory Agent.
If an individual is appointed as the statutory agent, that individual must be a permanent, full-time resident of the State of Arizona and must have a permanent, full-time physical or street address in the State of Arizona.
How does a Statutory Agent resign?
See the post here that covers how a statutory agent may resign.