Thinking of Forming a Business? Here is Some Information You Should Know.

Sep 26, 2017

Types of Entities recognized by Oklahoma Statute

  • Corporation
    • C-Corp
    • S-Corp
  • Limited Liability Company
  • Limited Liability Partnership
  • Limited Partnership
  • General Partnership
  • Professional Limited Liability Company
  • Professional Limited Liability Partnership
  • Charitable Organization (non-profit corporation)
  • Formation
    • Legal Entities are formed by filing certain documents with the Oklahoma Secretary of State
    • A Corporation is formed by filing Articles of Incorporation
    • A Limited Liability Company is formed by filing Articles of Organization
    • A Partnership is formed by filing a Certificate of Limited Partnership or a Statement of Qualification for Limited Liability Partnerships
  • Governing Documents
    • A Corporation is governed by Bylaws and a Shareholder’s Agreement
    • A Limited Liability Company is governed by an Operating Agreement
    • A Partnership (general, limited or limited liability) is governed by a Partnership Agreement
    • A Charitable Organization (non-profit corporation) is governed by its Bylaws with certain restriction placed upon it by the Federal Tax Code if the organization claims tax exemption
  • Registered Service Agent
    • Oklahoma statutes require an entity to register a service agent having an Oklahoma address with the Oklahoma Secretary of State.  The service agent is the party designated and authorized to accept service of summons and petition or other legal process on its behalf. Rosell Love often serves as the registered service agent for our clients.

Need a good attorney to walk you through this process? Let us know if we can help. Contact Rosell & Love today.