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Articles of Organization - YouTube
Channel: LegaLees
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hi this is Lee Phillips I'm an attorney
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don't hold that against me I want to
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talk to you for a minute about the
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Articles of Incorporation if your
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corporation or the articles of
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organization or the certificate or
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organization or whatever your state
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calls this thing these are the papers
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that you file to create the corporation
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or to create the LLC you file them with
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a state actually the corporations and
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LLC's are creations of the state it's
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your state that's giving you permission
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to operate under these rules in order to
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have your company give you a limited
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liability for example and taxes
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structures and all that stuff so you
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have to have the proper Articles of
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Incorporation and articles of
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organization and you need to read them
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and understand them now if you go to the
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lawyer a lot of the lawyers will give
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you four or five six pages of these
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things the Articles of Incorporation no
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no no no no the states require a very
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minimal amount of information in order
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to set up the corporation of the LLC in
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the old days the states used to require
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that you have a thousand or two thousand
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or five thousand dollars in the bank
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account of the company well that's you
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that's not a requirement anywhere any
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more that I'm aware of anyway so these
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renewals and regulations associated with
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the Articles of Incorporation or the
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articles of organization have been
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parried back a lot you will actually
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file the Articles incorporation the
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articles of organization on the state
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website they're going to ask you a few
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questions the name of the company the
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address of the company and you have to
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have a registered agent in the state so
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they need the registered agents address
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and phone number and all that stuff that
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has to be a physical person within the
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state that they could get ahold of that
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the sheriff can come and give a lawsuit
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to so you need a physical person if you
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don't have anybody in the state where
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you're incorporating or forming you
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LLC there are lots of guys that will be
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more than happy to take your money and
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act as your registered agent so in that
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list the registered agent you list the
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home office you list this sort of stuff
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don't give any more information to the
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state than is required at a minimum
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because that's public information
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anybody can see what you filed in order
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to create your corporation or your LLC
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now you're going to have a rule book
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that's going to be a lot longer than the
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Articles of Incorporation or the
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articles of organization and that rule
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book is going to tell you how you're
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going to operate the company a
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corporation that's called bylaws in the
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LLC it's called the operating agreement
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we'll talk about those in another one of
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these YouTube series but for now make
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sure that you understand what each thing
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that they're asking is and that you
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supply the proper answers on the
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Articles of Incorporation or the
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articles of organization and make sure
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you don't give them any more information
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than is actually required there they're
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going to often ask what's the nature of
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the business and you're going to say
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it's a retail business or it's a
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consulting business or it's you can make
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that pretty broad and you probably ought
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to some attorneys say well just say any
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lawful activity now that will come back
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to bite you sometimes I've seen it
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happen in a number of court cases state
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that this is real estate investing
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company state that its consulting
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company or a chemistry laboratory or
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whatever it is and that's usually in the
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Articles of Incorporation or the
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articles of organization as well so the
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first step is understand what is
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required by the state
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give them the minimum amount up and then
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you have to pay your fees of course and
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you file your papers with this day
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and that makes you a company in the
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States eyes now that doesn't mean that
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you're going to get the limited
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liability it doesn't mean you're going
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to get the tax structure you want it
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doesn't mean anything it just means that
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you now have a company with the state
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and in one of my twenty-seven
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formalities that I go through on
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corporations and LLC's one of the first
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ones is let's make sure we understand
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what's in the Articles of Incorporation
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or the articles of organization
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