Many insurance businesses operating outside their domicile state need to secure the services of a registered agent in those other jurisdictions. An RA is a person or entity, physically resident in the given state. You authorize them to receive important tax and legal documents, such as a service of process, from state regulators on your behalf. The registered agent then forwards such documents to you for appropriate action. Additionally, when you are asked to provide a physical address in a foreign state, you can use your RA’s address.
While anyone can serve as your RA, it’s essential that the person or company you choose is reliable. After all, as the licensee it’s still your responsibility to reply to inquiries from regulators – even if your registered agent fails to forward their communications in a timely manner.
In a few states, the SOS will act as your registered agent. Elsewhere, it’s your responsibility to find a qualified representative. Since many insurance businesses don’t have a physical presence or reliable contacts in every jurisdiction where they do business, it’s common to contract with a commercial service provider.
Reliable Service, Lower Cost
To help you find the right registered agent, ReSource Pro Compliance matches you with one of our vetted service providers. They each offer RA services in all U.S. jurisdictions. Our experts also ensure an easy transition from any previous providers and process annual service fee payments on your behalf.
By helping you consolidate your registered agent needs with a single provider, we not only make record-keeping easier, we can even help you lower your overall costs. This is because commercial RA companies offer discounts for multiple-state listings. You also benefit from the volume discounts that these providers offer to ReSource Pro clients.
Registered Agent Tracking
It’s essential to know who acts as your registered agent in each state where you are registered as a foreign entity. If your RA changes, you must provide state regulators with up-to-date contact information promptly. Failing to do so can result in fines and other administrative actions.
If you aren’t sure who your RA of record is in a particular state, a compliance review can provide this information. Then, our experts can help you get back into full compliance with the minimal impact to your bottom line and regulatory reputation by matching you with one of our providers.