Top 5 Benefits of Choosing Us as Your Lien Service Provider
Large Research Team
Our UCC Research team is committed to delivering high-quality results in every search we perform — from UCC searches to local court searches. We allocate the resources of our growing team efficiently and focus on improved training and development for our employees.
Includes Everything You Need
We offer wide-ranging, comprehensive searches nationwide. Our team is prepared to search any civil index hearing matter of $10,000 or more and provide project estimates with competitive fees based on your search and jurisdiction requirements.
Experience in Leadership
Our experienced UCC and Lien department is led by passionate leaders who are not only well-versed in the complex world of UCC, but who also started their own careers in lien services. Their knowledge has set the standard for the department’s growth and development.
New (and Improved!) Technology
Our in-house developers and UCC team work together to enhance technological systems for better lien search service and electronic filing offerings. We use proprietary applications that extract data directly from the Secretary of State’s office to reduce errors and provide fast and reliable results.
Second Set of Eyes
Capitol Services ensures high-quality and dependable services by putting all search reports and filings through a rigorous editing process before being sent out. This extra step ensures that you receive results you can trust and rely on.
Capitol Services Partners
with Clearview Capital
We’d like to announce our new capital partner, Clearview Capital, a Connecticut-based private investment firm founded in 1999. Clearview has a proven track record of helping entrepreneurial, service-oriented businesses achieve significant growth and longstanding success. The firm has been recognized by Inc. Magazine as a top founder-friendly investor for four consecutive years and by GCI Publishing as a Top-50 Private Equity Firm in the Middle Market for seven consecutive years. Clearview’s cultural fit with Capitol Services ensures that we not only have the capital and support we need, but that we also have a partner that shares our passion for both our clients and employees.
We want to thank all of you as clients, and every employee who has been a part of the Capitol Services family, because without you we would not be where we are today.
We’re excited to be working with our new partners at Clearview Capital!
READ MORE HERE
Inaction Results in Serious Consequences
Did you know that most states require companies to file an annual report with the Secretary of State in order to remain in good standing in the state? This report usually contains basic company information including management/officer data, address details, and registered agent information.
There can be serious consequences for missing a filing including:
1. Administrative dissolution or revocation;
2. Loss of the right to use your corporate name;
3. Tax liens against you for unpaid taxes;
4. Voidable contracts if entered into while in bad standing;
5. Breach or default of duties under financing agreements.
It can be challenging to monitor each state’s reporting requirements and to keep abreast of any changes. Complicating matters, many states have stopped sending annual report reminders to companies. Consequently, companies are left to figure out their reporting obligations on their own. Unsurprising, many thousands of companies across the country miss their annual report filings and fall out of good standing each year.
Do not put your business at risk! Sign up for our Annual Report Management Service (ARMS), and let us manage your filings! ARMS is an auxiliary service offered to companies that have appointed us as their registered agent. We can help take the pain out of annual report compliance.
Core Duties of a Registered Agent
Most companies understand that they are required to designate a registered agent on their application to do business in each state. But, are you familiar with the duties of a registered agent? State statutes set forth a registered agent’s core responsibilities. Generally, these responsibilities are to:
1. Maintain a physical address (a registered office) in the state;
2. Receive legal process, notices and demands on behalf of the represented company, and forward such documents to the company at the address most recently provided by the company;
3. Notify the company if the registered agent’s address changes or if the registered agent resigns.
A company’s registered agent is not statutorily responsible for submitting tax or annual report filings on the company’s behalf or paying any fees for the company. A registered agent is also not responsible for the forwarding of general mail. Many companies incorrectly use the registered agent/office address for their mailing address on registration forms. The mailing address should actually be an address for the company and not the registered agent.
2019 DELAYS ≠ 2022 DELAYS
COVID closures, logistical bottlenecks, and short-staffed filing offices continue to pose challenges for customers used to submitting and receiving filings on an expedited basis. Unfortunately, we’re seeing these significant delays in very high-volume jurisdictions further exacerbating the impact on closings. We mentioned Delaware delays in the last issue of our newsletter and we’re not seeing much of an improvement there. “Next Day” expedites are currently running about 3-5 days to receive filed evidence, but that is far superior to the 4-month turnaround for routine processing. Delaware, however, is not alone. UCC Filing acknowledgments in New York are a good 10-15 days out and copy requests can also run 2 weeks out. Unfortunately, there is no expedited service available there.
In California, most filings are taking anywhere from 1-4 weeks to finalize evidence and expedite is only available for online filings with additional fees upwards of $750. UCCs in the Golden State are taking their time as well — about a week. Even in Texas where, thankfully, we have seen some improvement, preclearances and mergers can still cause us to wait 3 weeks for evidence. We’ve said it before and we’ll say it again: Don’t miss your filing date. File early. There simply are no margins for error and unfortunately, though we’ve fielded so many of your pleas, there is very little we can do to get our contacts at the filing offices to prioritize, or even offer an estimate of completion for all of our many pending submissions. Don’t wait! Contact us now to get your filings on the fast(ish) track!
Five Fun Facts About Delaware
Delaware definitely likes to be first. It was the first state to ratify the Constitution, and it’s often the first choice for many business entity formations. Below are 5 possibly lesser-known facts about this “Small Wonder”:
- Delaware is home to more businesses than people.
- The Delaware Court of Chancery was established almost 230 years ago and has written most of the U.S. corporation case law.
- Approximately 340 of the Fortune 500 claim Delaware as their legal home.
- Delaware registers more businesses annually than any other state with nearly 250,000 new businesses registered in 2020.
- Our Delaware office is staffed from 8am – 7pm Eastern with industry veterans well-versed in the intricacies of any form of filing and not just in Delaware.
Capitol Services likes to be first, too. We’d love to be your go-to service provider when you need assistance with your Delaware registration and beyond!
These and other interesting facts about Delaware can be found at www.corp.delaware.gov.