If you are incorporating your business or chartering it as a limited liability company (LLC), keep records from the start. Georgia’s Secretary of State requires you to file several documents legitimizing your company and county, and Alpharetta regulatory agencies require licenses and permits. Additionally, if shareholders want to invest, you will need a record of stock purchases.
The company’s books and records are an essential part of running a successful business. Work with the experienced business lawyers at Sparks Law to ensure that you have all the necessary filings and documents. Our legal team can help you build an Alpharetta corporate kit that contains everything you need.
A corporate kit should contain all documents related to organizing and running a business, such as bylaws for corporations and operating agreements for LLCs, company policies, important contracts, financial information, shareholder records, and any memoranda to raise capital. At a business’s founding, the corporate kit should include:
A corporate record book is a repository for all necessary papers. Management may refer to it during audits or when conducting private placements, raising capital through debt, reviewing vendor or employment contracts, and recording shareholder information.
Although a corporate seal is generally not required in Georgia, some professionals (such as architects) must use one, according to the Georgia Code Rule 50-2A-01. Seals act as the unique, embossed signature of a company. Our attorneys are experienced in building corporate kits and can advise Alpharetta business owners about what documentation is essential when starting a company.
Georgia business owners must elect an operating status when chartering a company. Generally, this status is either a corporation or LLC, although many businesses choose to operate as partnerships. To charter a company, owners pay a fee and file various important documents that should be included in their corporate kit.
The Articles of Incorporation (for corporations) and Articles of Organization (for LLCs) provide basic information about a company to the state. If an owner elects to charter a corporation, they must choose whether the company will operate as a C or S Corporation. Within ninety days of filing, businesses must also provide officers’ and directors’ names to the state if they have not been named when the initial documents are filed.
The corporate bylaws or LLC operating agreements act as a roadmap for how management will run the company. They do not have to be filed with the Secretary of State, but they are crucial documents for a company to have on hand. At Sparks Law, our seasoned lawyers can also help with drafting these agreements as part of a corporate kit.
Each year after the initial filing, businesses must file an annual report and pay a fee. The annual report lets the Secretary of State know that the business is still operating in Georgia. It also includes a record of address, registered agent changes, and any additions or deletions of directors and officers. These filings can be found online, but keeping a copy in the company’s corporate kit is always advisable.
It is important to remember that the documents above are not a complete list. A lawyer at our firm can determine what documents should be included in your corporate kit based on your individual needs.
A corporate kit is a valuable record of transactions, legal and financial documents, shareholders, and ongoing company. It is critical to work with a skilled lawyer on your Alpharetta corporate kit when starting a business, and it is equally important to update your files as your company grows and changes.
Whether you are just chartering a company or have been in business for a while, speak with the team at Sparks Law. Call us today and learn more about the tools you need to achieve your business milestones.