Your Virginia LLC Terminated by Accident? No Cause for Alarm, Perkins Law Can Help

It happens more frequently than you think–the Virginia State Corporation Commission terminates the existence of an LLC for failure to pay its $50 annual fee.  In theory, having the existence of your LLC terminated, if not corrected in a timely fashion, could have serious legal consequences.  The termination could constitute an event of default under important contracts to which the LLC was a party.  With no LLC, a business owner is suddenly exposed to personal liability risk for debts and obligations of the business.  As a practical matter, though, there is no reason to panic.  Being a very business-friendly state, Virginia law provides a quick and easy process for a terminated LLC to get reinstated by submitting a written reinstatement request and payment of a nominal reinstatement fee.  The reinstatement will be dated retroactive to the date the LLC’s existence was terminated, so it will be as if nothing ever happened, a true “no harm, no foul” approach.  If you discover your LLC has been terminated by the SCC, contact us help get your LLC reinstated in a flash, and while you’re at it, consider having Eric Perkins serve as registered agent for your  Virginia LLC to reduce this risk of arising again in the future.