Alerts

Clerks: File First or Maybe Second?

It is sometimes impossible to ensure that file first, file second instructions will be adhered to by state UCC filing offices. If filing order is imperative, please discuss the best submission methods with our customer service representatives. It may be necessary to wait for returned evidence of the first filing before submitting the second.

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Independent Director Service Now Available

Structured finance transactions frequently call for the formation of a special purpose entity (SPE) to isolate assets and limit risks associated with bankruptcy. In addition, the appointment of an independent director or manager may be required to provide an independent vote regarding certain actions designated in the SPE’s operating agreement. An independent director or manager is not involved in the management of the SPE but is appointed to provide independent judgment upon a triggering event, such as insolvency.

Through a proven relationship with one of the nation’s top wealth advisory and financial firms for corporate transactions and restructuring, Capitol Services now has a trusted source for independent director and independent manager services.

You are accustomed to Capitol Services’ fast, reliable service to meet your transactional needs. You will experience the same level of service when you contact us for your independent director or manager needs.

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E-Recording 411

Almost all U.S. states have passed statutes allowing for electronic or e-recording of real estate documents. We are happy to now offer an e-recording service in thousands of counties across the country.

In most cases, e-recording reduces fees and turnaround time for evidence of filing. Because we are able to get an almost immediate evidence of filing or rejection, there is no longer a concern that a filing office or delivery service will misplace an important document. Postage alone on large recording projects can add significant costs – especially if those large boxes are shipped to your service provider, a local filing office, and then back to your desk.

As we’ve seen with some Secretary of State requirements, it’s not impossible to imagine a day when real estate documents are required to be electronically transmitted. Take advantage of our e-recording service and ask us if your next filing is eligible!

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Texas Franchise Tax Reports

Due to statewide inclement weather in February 2021, the Texas Comptroller of Public Accounts has extended the due date for 2021 Texas franchise tax reports to June 15, 2021. Learn more here: https://bit.ly/2NR2aVB.

Virtual Office Vulnerability

Virtual offices are all the rage these days. Who doesn’t want a prestigious address on their letterhead without having to pay for an expensive office? However, when it comes to a registered office address, there is much more to consider than how much that address may impress others.

State laws mandate that a corporate entity must maintain both a registered agent and registered office physically located in the state in which it is registered. In addition to having a registered agent listed in the domestic home state, a company must also have a registered agent in each state where business is transacted. This requirement is intended to ensure that both the state and public have a point of contact for the business. The primary purpose of this contact is to aptly receive and quickly forward legal service of process and important notices.

A virtual office provides a company with an address to receive physical mail while conducting business at another location. More companies are using virtual offices than ever before. Many states already prohibit entities from listing post office boxes and mailbox services as registered office addresses because in-person service of process on the registered agent is not possible. Likewise, a virtual office is noncompliant in this regard and should not serve as a company’s registered office address. As the virtual office trend continues, states are explicitly prohibiting entities from listing virtual office addresses as their registered office.

Don’t run the risk by listing a virtual office address as your registered office. Instead, utilize a trusted professional nationwide registered agent service provider that gives you the national presence a company needs and helps reduce the chances of delayed receipt of vital information.

If interested in learning more about Capitol Services’ registered agent safeguards, please contact us for more information.

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Service of Process Forwarding

We know how important it is for you to receive sensitive legal documents in a timely manner. For this reason, we have designed our registered agent systems and processes to be efficient and accurate.

It is our policy to forward service of process to clients on the day of receipt. When we receive service of process for a registered agent client, we immediately enter and scan the document into our system. We then send an email notification of the document’s receipt to the client’s designated service of process contact as well as to any additional email addresses that the client has requested that we copy. This email notification contains basic information about the service of process (including the document type, case title, and case number) as well as a link to an image of the document itself. We then forward the original document to the client’s service of process contact by Federal Express Two Day Delivery.

Clients can also access all documents that we’ve received and forwarded as their registered agent through our online Client Dashboard. As a reminder, we are currently physically on-site, fully operational, and responsive to SOP during COVID-19. If you have any questions about our registered agent services, please don’t hesitate to reach out.

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