After thinking and weighing all circumstances, you have come to the conclusion that it is time to make some changes to your business. The next thing you have to do is to prepare yourself so you can handle the changes and formalize your decision with the state.
Get a free consultation and learn how DoMyLLC can support your business.
If your Corporation or LLC operates in Georgia, then it is registered with the state. You will have to go through a legal process if you want to make major changes to the items listed on your company’s Articles of Incorporation/Organization. You will have to file the proper paperwork. Doing this is known as an amendment.
No matter what your company’s reasons are in making some changes, you will have to know when it is necessary to file an amendment. Generally, companies have to file an amendment if the changes they want to adopt will affect the formal entity structure of the business.
A. Changing The Company Name –
Like in other states, Georgia requires LLCs to inform the state if they decide to change the name of the company. Aside from submitting an amendment, you will also need to update the records of your LLC with the state and government.
Some corporations also end up changing their business names. If this is the case for you, you will have to file an amendment with the state. You will also have to change the name of your company on all legal and official records.
B. Changing Members Of The Business –
The state does not require LLCs to submit a list of members and/or managers. You will not have to file an amendment even if there are some changes to information related to members or managers. They can be updated in the operating agreement of the LLC.
Georgia does not allow corporations to make changes to officers and directors through an amendment. If you wish to change some information related to the officers and directors, you will have to update them on your annual report.
C. Changing Address Related To The Business – Georgia does not allow companies to update their principal office and/or mailing addresses on an amendment. You can only make changes through your annual registration. If the annual registration has already been filed for the year, the company can submit an amended registration to reflect the change.
D. Changing Contact Information –
If you change the contact information of your Georgia LLC, you may have to let the state know. This way, they can easily reach you. However, you cannot update this information using an amendment. Include the update on your annual registration.
The same rule applies to corporations. You cannot change your contact information through an amendment. Report the changes when you submit your annual registration.
E. Changing The Number Of Shares That A Corporation Is Authorized To Issue – LLCs cannot issue stock. This change is only relevant to corporations. You should file an amendment any time you decide to make changes to your stock plan. This way, you will properly inform the state of your plans to change the number of shares that your company is authorized to issue.