Compliance 2018-03-16T20:10:36+00:00

Compliance

Non-compliance on any level, including federal, state or county, can be fatal to the success of a business. King Law Firm Attorneys at Law, Inc. works diligently with business owners to ensure that their businesses are compliant, keep them in compliance, or turn a previously non-compliant company compliant. We also prepare the following documents to help establish your compliance requirements:

  • Articles of Incorporation or Organization
  • Bylaws
  • Minutes
  • Ownership and employment agreements
  • Notes and security agreements
  • Leases or rental agreements

Internal Compliance

Internal requirements are actions that directors, shareholders, members and/or managers must document as part of a corporation or limited Liability company’s records.

  • Corporations have the strictest internal compliance requirements. These include holding annual shareholder meetings, maintaining by-laws, issuing stock and recording transfers of stock.
  • Although it’s not mandatory for an LLC to uphold internal compliance records, it is recommended that the members maintain operating agreements, membership shares and membership interest transfers, as well as holding annual member meetings.
  • Business owners may also consider creating a compliance kit, which includes sample bylaws, membership interest certificates, corporate or LLC seals, and sample meeting minutes, to organize their records.

External Compliance

External requirements are compliance obligations imposed by the state for which the business is incorporated or registered to transact business. Requirements include: annual state filings and fees, annual reports or biennial statements, franchise taxes and initial reports or statements.

Failing to meet the requirements could keep your company from being in good standing and cause legal and financial hardships, including the imposition of late fees and interest payments on outstanding balances, the disappearance of protections on personal assets, and administrative dissolution.

There are also many industry-specific requirements, which may include OSHA and HIPAA regulations.

Contact us for information and help in making sure your business is, and remains, compliant.

We offer plenty of information and resources to help you manage your business successfully, including:

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