Depending on the specific business, there are likely a number of state and federal statutes with which your business must comply. One of the most basic on the state level is complying with the Illinois Secretary of State’s annual filing requirements. We serve as the registered agent for most of our business clients. In doing so, we assure that our business clients always have their annual reports filed in a timely manner and are compliant with all other matters required by the Illinois Secretary of State. In addition, we make sure that our corporate clients have up to date corporate record books, which contain the necessary annual meeting minutes, shareholder actions, director actions, and other necessary documents. Complying with corporate formalities is one of the factors considered by Illinois courts when determining whether to pierce a corporation’s veil and impose personal liability on the individuals who control the corporation. Accordingly, it is very important to make sure that your business is in compliance with the Illinois Secretary of State and that its record book is up to date.
If you have questions about whether your business is in compliance with any state or federal requirements, contact the Business Law Group for a free consultation to discuss the best strategy for assuring your business is compliant.