AVAILABLE TO CLOSELY HELD CORPORATIONS
The Statement / Minutes / Agent Program is available to closely held corporations with
three or fewer shareholders. A husband and wife are counted as one shareholder.
Any qualifying closely held corporation may participate. It does not matter
whether our law office formed your corporation.
LEGAL CONSULTATION LIMITATIONS
We have the right to limit the telephone consultation
benefit to one-half-hour per matter. For example, you may consult with an attorney by
phone for up to one-half-hour concerning a proposed office premises lease, but not one-half-hour
per lease clause. The legal consultation benefit does not cover writings such as
of letters, legal opinions, legal memoranda, or other documents or writings.
SHAREHOLDER AND BOARD OF DIRECTOR'S MINUTES
Each year, sixty (60) to ninety (90) days before the
anniversary date of your corporate counsel coverage, we'll send you an easy to
complete, but detailed, check list. When you return the check list, we'll
prepare your Annual Board of Directors and Shareholder Minutes, signature-ready.
ANNUAL STATEMENT OF INFORMATION (FORM SI-200)
We will prepare and file your annual Statement and any
necessary amendments. We will also pay the $25 filing fee and send you a copy of
the filed Statement for your records. The Corporate Counsel Program keeps you on
track. Failure to timely file the Statement will result in a $250 penalty
assessment and possibly suspension of the corporation.
AGENT FOR SERVICE OF PROCESS
We will act as the corporation's agent for service of process in California
during the one-year corporate counsel period.
AUDIT PROTECTION -- LIMITATIONS
Covered Taxing Agencies:
Internal Revenue Service (IRS); California Employment Development
Department (EDD) and / or California Franchise Tax Board (FTB). No other
Covered Audits: We
will represent the corporation provided the initial or opening audit notice /
letter was received by the corporation while the corporation was a program
Time Limitation: We
will provide up to 20 hours of legal representation at no charge. Our current
hourly rate is $350 per hour so 20 hours represents $7,000 worth of legal
services. Representation in excess of 20 hours will be subject to legal fees
should the corporation and the Law Office agree on continued representation.
Post Audit Proceedings Not Covered:
We will handle all communications with the auditor and the auditing agency.
However, unless there has been a separate and specific agreement otherwise, we
will not handle post audit matters such as litigation by or against any
government agency, any administrative proceedings such as appeals,
administrative law hearings, or appeal conferences.