Making changes to a company is part of growing. When you reach this point, you might find the process a bit overwhelming. Proper understanding of the things that you have to do can help you face these changes.
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The state of Minnesota requires all businesses to report changes that they make to the items that are originally listed on the Articles of Incorporation/Organization. To do this, your company has to go through the amendment process and submit the proper paperwork.
Generally, filing an amendment is necessary when a company decides to make changes to the organization that will affect its business structure.
A. Changing The Company Name –
Sometimes, changing the name of your Minnesota LLC may be necessary. To make the change legal, your company has to go through the legal process that the state has set. Submit an amendment to the Secretary of State. Then, make sure you also update the records of your company with the state and government.
Some corporations also end up changing their company names. Doing this also requires you to file an amendment with the Secretary of State. Additionally, you also need to change the name of your company on the records with the state and government.
B. Changing Members Of The Business –
Minnesota does not require LLCs to submit a list of all members and managers. You only have to provide information about your company’s Chief Manager on the annual renewal. However, if you decided to customize your Articles of Organization, you can include information about your members and managers. If this is the case, you can make changes to these pieces of information using an amendment.
The state does not require Minnesota corporations to submit a list containing information about the officers and directors. You only have to provide information about the CEO of your company on your annual renewal. But if you chose to draft your Articles of Incorporation when you first registered, you can file an amendment to make changes to pieces of information related to your company officials.
C. Changing Address Related To The Business –
An LLC in Minnesota can only change its business mailing address through an amendment. Doing this will ensure the receipt of all legal and important documents addressed to the LLC.
You cannot change the address of your corporation using an amendment form. Changes in the registered office address must be done using the Notice of Change of Registered Office/Registered Agent.
D. Changing Contact Information –
Minnesota LLCs have to make sure the Secretary of State can reach them. That is why you should report any changes to your contact information. You need to put the updated email address of the LLC and phone number of an authorized representative.
Corporations also have to do the same thing. Inform the Secretary of State if you change your contact information. This way, you will be sure to receive legal queries related to your business. The amendment form requires you to include the updated email address of your corporation and contact number of an authorized representative.
E. Changing The Number Of Shares That A Corporation Is Authorized To Issue – Minnesota LLCs do not issue shares. This change does not apply to them. Meanwhile, Minnesota corporations have to file an amendment if they wish to change the number of shares that they are authorized to sell.