It is that time of year again, the time to file your company’s annual report with the New Hampshire Secretary of State’s office. You may have already received the notice from the Secretary of State. The deadline of April 1st seems a ways off, but it can sneak up of you. The filing of an annual report is required of all corporations and limited liability companies whether your company is domestic company or foreign company properly certified to do business in the state.
The Secretary of State’s web site (http://www.sos.nh.gov/corporate) allows you the option of completing the form on-line with a credit card payment, or printing the form and mailing it in with a check.
At the same time you are going through the exercise of filing of the Annual Report, the process offers you the chance to make sure all company documents are current and complete. For instance, it makes sense for corporations to have an annual meeting at the same time as the completion of the form. This can accomplished by an actual meeting or by the written consent of the shareholders and directors.
It should be noted that the last two years have brought us a change to the Limited Liability Act as well as the revised Corporate Act. If it has been more than a year since your company was formed you may wish to review your company’s bylaws or in the case of a limited liability company, your operating agreement, to make sure that both documents still meet the current statutory requirements and will not result in an unintended result.
It may also be a good time to evaluate ownership issues, shareholder agreements or any estate planning issues that need to be addressed.
As your company changes and grows over time, the documents drafted at the time of formation may no longer be adequate. Just like you house and your car, annual maintenance makes sense.
If you have any questions or would like additional information on this issue or other corporate challenges, please contact Paul D. Creme. I represent a wide range of companies from small, family businesses to larger, public companies.
Paul D. Creme is an attorney with Hamblett & Kerrigan PA. His practice is focused on business and corporate law. Of particular interest are the areas of software and emerging technologies. You can reach Attorney Creme at [email protected].