Virginia State Corporation Commission Issues Alert to Virginia Corporations
On November 25th, the Virginia State Corporation Commission (“SCC”) issued an Alert to all Virginia Corporations regarding seemingly fraudulent solicitations from an entity calling itself the “Virginia Council for Corporations.” According to the SCC’s Alert, these solicitations are NOT authorized communications from the State Corporation Commission.
These mailings from “Virginia Council for Corporations” include an official-looking document titled “2014-Annual Records Solicitation Form” and instructions for completing and returning the form. The Solicitation Form includes an offer to Virginia corporations from the “Virginia Council for Corporations” to prepare “corporate consent records in lieu of meeting minutes” for a fee of $125.00. The Virginia SCC Alert warns Virginia corporations to “PLEASE BE ADVISED that the Solicitation Form is neither required by Virginia law nor authorized by the Commission, and it will not be accepted for filing with the SCC.”
The “Virginia Council for Corporations” Solicitation Form is similar to the VA SCC Annual Report Form. Accordingly, many businesses have been confused by that Solicitation Form and have responded to it.
If you have received a Solicitation Form from the “Virginia Council for Corporations,” you should ignore it and throw it away. If you have already sent it in thinking it fulfilled your Virginia corporate Annual Report requirements, it did not, and you will still need to submit your official VA SCC Annual Report Form to the Virginia SCC.
Although businesses can serve as their own registered agent in Virginia, General Counsel, P.C. highly recommends utilizing a third party to serve as your Virginia registered agent. For a flat fee of $350.00 per year, General Counsel, P.C. provides this service for many businesses in Virginia.
If you any questions about this SCC Alert, having General Counsel, P.C. serve as your registered agent, or any other related legal matter, please do not hesitate to contact Merritt Green or Norman Eule at General Counsel, P.C. at 703-556-0411.
General Counsel, P.C. – Every Business Needs a General Counsel: Led by Norman Eule, General Counsel’s Business and Tax Practice Group has over 40 years of professional experience in counseling business owners on all aspects of business and tax matters. Our attorneys have extensive experience representing a wide range of local, regional, and national companies and business ventures. If you have any questions regarding the effect of the new solicitation rules on your company, or any other business law related questions, please contact either Norman L. Eule or Merritt J. Green.
For more information, visit www.gcpc.com
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