Ongoing formalities made easy
While C corporations and S corporations face the strictest ongoing formalities, limited liability companies (LLCs), limited partnerships (LPs), limited liability partnerships (LLPs) and nonprofits should also take steps to protect their entity status. A Compliance Kit & Seal includes items to make this process easy.
Why it’s important
Below is a list of ongoing formalities that corporations must follow and that are also recommended for LLCs, LPs and LLPs. The Compliance Kit & Seal can assist with each of these.
- Create and regularly update bylaws (corporations), an operating agreement (LLCs), or a partnership agreement (LPs/LLPs).
- Hold and properly document an initial meeting of directors (corporations), shareholders (corporations), members/managers (LLCs), or partners (LPs/LLPs).
- Hold and properly document annual meetings of directors (corporations), shareholders (corporations), members/managers (LLCs), or partners (LPs/LLPs).
- Issue ownership certificates (stock certificates, membership certificates or partnership certificates) to all owners.
- Record any changes in percentage of ownership, any new owners added, etc. in a stock (corporations), membership interest (LLC), or partnership interest (LPs/LLPs) in a transfer ledger.
Features & benefits
Our Compliance Kit & Seal includes:
- Customized binder. A professional binder enclosed in a matching slip-case and customized with your company's name on the spine.
- Seal. A hand-held corporate/LLC/partnership seal used for stamping documents with your company’s name, state and year of incorporation.
- Ownership certificates. 10 custom, numbered, stock (corporations), membership (LLCs) or partnership (LPs/LLPs) certificates printed with your company’s name to designate ownership interest in the company.
- Ownership transfer ledger. A stock/membership interest/partnership interest transfer ledger to keep accurate records of ownership amount information.
- Sample internal governance document. Sample bylaws (corporation), operating agreement (LLCs), or partnership agreement (LPs/LLPs), which outlines how the company will be managed and will address certain situations.