Corporations and limited liability companies formed or qualified to do business in California are required to file a Statement Of Information, annually or biennially, respectively. The Statement Of Information lists the address, officers, directors/managers and agent for service of process of the company.

Until recently, the Secretary of State retained older Statements of Information in its files. But effective June 20, 2011, the Secretary of State will retain only the most recently filed Statement of Information and the last previously filed Statement of Information.

This means that companies who need access to their older Statements of Information for certain business purposes, such as due diligence in a merger, should
check their corporate records book and make sure copies of these previously filed forms are at hand.

This change in state retention policy was set forth in a mailing sent by the Secretary of State to all California companies. [Form BE-SI-RETENTION (Est. 06/2011)]

A phone call to the Secretary of State’s office elicited the following additional information: Purged Statements of Information, though no longer easily accessible, may be available on microfiche, and could be requested. Whether this is true, or will remain so, is unclear. So plan accordingly.

Schein & Cai can help you incorporate, form an LLC or other entity for your business and ensure that corporate filings are made and formalities followed on an ongoing basis. Call us for a free consultation.

Find us at www.sacattorneys.com.

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