New Mexico LLC Registered Agent: Everything You Need to Know
You must select a New Mexico LLC registered agent before forming a limited liability company with the Secretary of State. 3 min read
You must select a New Mexico LLC registered agent before forming a limited liability company with the Secretary of State.
What Is a Registered Agent?
A registered agent can be a person or company who agrees to accept legal mail on behalf of your company if you get sued.
A registered agent can also be the general point of contact for obtaining tax and business notices, payment reminders, and other types of documents. The registered agent must also have a street address that is in New Mexico. A PO Box is not acceptable.
In case of Service of Process, the registered agent needs to be available during regular business hours from 9 am to 5 pm. Service of Process can include the delivery of summons, subpoenas, or complaints. An example would be if your business gets sued, a process server or sheriff hand-delivers service of process or notice of a lawsuit to the registered agent and the agent signs confirming receipt.
What Are the Options for Choosing a Registered Agent?
In New Mexico, you have these choices for a registered agent:
- You can elect to be the LLC's registered agent yourself.
- You can hire a third-party to act as a commercial registered agent.
- You can have a family member or friend serve as the agent.
Rules for a Registered Agent
If a person is going to be your LLC's registered agent, whether it is you, a family member, or friend, he or she must be a resident of the state. The registered agent must be available during business hours if it is at a home or office and the street address needs to be located in New Mexico.
If you do not have a family member or friend's address to use or an address in New Mexico, then you may want to hire a commercial registered agent. They offer privacy and the setup is more reliable than using yourself or a relative or friend. The one thing you cannot do is list your LLC as the registered agent.
What is a Commercial Registered Agent?
A company that specializes in accepting Service of Process on behalf of LLCs is a commercial registered agent. They usually can cost between $100 and $300 each year. The company will forward all mail received to you. They can also fax or email documents.
There are risks associated which are not likely to happen, but in the event that something does occur, the result could be you losing your liability protection. An example of this would be if the Secretary of State attempts to reach you and cannot. You could lose your good standing status, and the state could dissolve your company. A process server will make several attempts, but if one is unsuccessful reaching you about a lawsuit, a case could begin without you being present, and you may not know about the proceedings. The court may rule against you, and you would not be there to defend yourself.
When a Process Server Cannot Reach Your Registered Agent
A few different reasons could cause a process server to be unsuccessful in reaching your New Mexico LLC registered agent:
- The registered agent is on vacation.
- You, a family member, or a friend is not available during regular business hours.
- The agent moved, and you did not file a Change of Registered Agent as required by the New Mexico Corporations Bureau.
With a commercial registered agent, you have more reliability, and you do not have to worry about making changes to the registered agent's address if you decide to go on vacation. They also can send you reminders of annual reporting requirements to help keep your LLC in compliance with the state.
Registered Agent for a Foreign New Mexico LLC
To form a foreign limited liability company, you have a state filing fee of $100, and you must select a registered agent. A corporation has a minimum filing fee of $200, which gets determined by the number of shares authorized, among other factors. You must file a Certificate of Authority for a foreign LLC and have a Certificate of Good Standing that is current within 30 days.
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