Kentucky Amendment
Making changes can sometimes be a necessary move to help ensure the growth of a business. If that happens to your company, you will have to be ready to handle the changes. As the owner, you have to know what you should do to ensure that your company remains compliant with the state.
What is A Kentucky Amendment?
Kentucky requires all businesses to keep the state informed when it comes to major changes in the formation documents of companies. To do this, your organization has to undergo the amendment process. Doing this involves the filing of the proper paperwork.
Reasons Why You Need To File An Amendment
Your company has to know when it is necessary to file an amendment. The reasons behind the changes you want to make may vary depending on your company. Generally, you have to file an amendment with the state if the changes that you plan to make will affect the formal entity structure of the business.
A. Changing The Company Name –
- LLCs
Sometimes, it may be necessary for a Kentucky LLC to change its name. However, you cannot operate under a new name just because you want to. Doing this requires you to go through a legal process. Check the naming regulations of Kentucky. Then, report your LLC’s plan by filing an amendment. You may also need to update all state and government records.
- Corporations
Some corporations end up having to do business in Kentucky under a new name. In such cases, the corporations have to follow the process that the state has set. First, ensure the availability of the new name before filing for an amendment. Then, submit an amendment form. After that, update all the corporation’s state and government records.
B. Changing Members Of The Business – Your Kentucky company has to inform the state if there are any changes in the pieces of information related to LLC members/managers or corporation officers/directors. Unfortunately, you cannot do this through an amendment. Kentucky businesses can make these changes when they file their annual reports.
C. Changing Address Related To The Business – Updating the operating address, as well as the registered office, of your business in Kentucky is a must. However, the state does not allow you to make these changes through an amendment. If your company has changed its office location, you will have to file a completed Statement of Change of Principal Office Address, Registered Agent, and/or Registered Office Address form with the Secretary of State. It comes with a $10 filing fee.
D. Changing Contact Information –
- LLCs
You have to make sure that the state knows the current contact information of your Kentucky LLC so they can easily reach you. The point of contact of the state with your company is the registered agent. If there are any changes related to the registered agent of your LLC, file a Statement of Change of Principal Office Address, Registered Agent, and/or Registered Office Address form.
- Corporations
Changing the contact information of your Kentucky corporation requires you to file an amendment. This way, the state can easily access your corporation if it has any legal queries. Since the registered agent of your company receives all legal documents on behalf of your corporation, you have to inform the state of any changes. You can do this by filing a Statement of Change of Principal Office Address, Registered Agent, and/or Registered Office Address form.
E. Changing The Number Of Shares That A Corporation Is Authorized To Issue – Kentucky LLCs are not authorized to issue stock, so this is not something they have to worry about. But, if a Kentucky corporation wants to make changes to the number of shares that it is authorized to sell, it has to file an amendment.
What Is Needed To File An Amendment?
LLC
Making amendments to your company’s Articles of Organization requires you to submit a completed Articles of Amendment to the Secretary of State. You can download the form from the website of the Secretary of State. You can also choose to draft your articles if you do not want to use the state forms. Submit 2 copies along with the $40 filing fee by mail or in person.
Corporation
Likewise, corporations also have to submit 2 copies of the completed Articles of Amendment to the Secretary of State. The form is available for download on the website of the Secretary of State. The state also allows corporations to draft their own articles of amendments. Submit the documents and the $40 filing fee by mail or in person.
How Can DoMyLLC Assist With Streamlining The Process?
Making changes to a company’s formation documents require proper completion and filing of paperwork. Depending on the changes, you may also have to take care of other documents. To help ease the process, you can turn to a reliable document filing company like DoMyLLC. Our team can provide support and assistance to Kentucky business owners who need help in handling formalities to ensure compliance with the state.
Kentucky Amendment FAQs
Is There A Filing Fee For The Amendment?
The filing fee for an amendment is $40. Corporations that want to increase their shares have to pay an additional fee depending on the number of shares.
- First 1,000 shares – $10
- Up to 2,000 shares – $.01 per share
- Next 180,000 shares – $5 per share
- Remaining shares – $2 per share
What Information Is Required For The Articles Of Amendment?
LLCs have to provide the following information:
- Company name
- Exact text of each amendment
- Date of adoption
- Effective date
- Authorized signature
Corporations have to provide the following information:
- Company name
- Exact text of all amendments
- Date of adoption
- Effective date
- Authorized signature
How Long Does It Take The State To Process The Amendment?
The Secretary of State usually takes up to 3 business days to complete the processing of the amendment documents.
Do You Receive A Copy Of The Certified Amendment From The State?
Once the Secretary of State finishes filing the Articles of Amendment, it will send a file stamped postcard to your company’s principal office address. You can request the state to send the documents to a different address.
Kentucky Business Resources
Kentucky Office of Secretary of State
Phone:
502.564.3490
Address:
Kentucky Secretary of State
700 Capital Avenue Suite 152, State Capitol
Frankfort, KY 40601
If you’re interested in more info on filing an amendment, call 888-366-9552.