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August 2020










Compliance Updates

Colorado

Effective July 1, Amendments to the Colorado Business Corporation Act and the Colorado Corporations and Associations Act update definitions, mergers, conversions, dissolutions, names, and director liabilities, among other items. Click here to learn more.

Nebraska

Effective July 20, LB 808 provides for the ratification of defective corporate acts. Click here to learn more.

Tennessee

Effective July 2, SB 1754 clarifies requirements for business entity form submission, formats, executions, and other housekeeping items. Click here to learn more.

About Us


Infinity Professional Services Group Inc. provides nationwide coverage for filing, searching and retrieval for corporate, UCC, real estate and litigation matters. Through our strategic partnership with Registered Agent Solutions, Inc. (RASI), we are also available to assist with all of your corporate compliance and registered agent needs. 

 Contact Us




info@infinitypsgi.com

855.450.4774

PRINCIPAL'S OFFICE

This Month’s Service Highlights:

Registered Agent
Change of Registered Agent
Entity Management Solution

 
A large part of our focus is providing companies with cost-effective and efficient compliance solutions through our strategic partnership with Registered Agent Solutions Inc. (RASI). Since many of our clients rely on Infinity primarily for the due diligence and/or transaction-related requests, we thought it would be enlightening to see how we also assist companies with implementing better solutions and practices for corporate compliance. Here is a generic yet common scenario we typically uncover and the improved solution we implement.

Client Success Story

Company Profile:

Midwest-based company doing business nationwide through a handful of subsidiaries is continually challenged with multi-state compliance and regulatory deadlines slipping through the cracks due to a decentralized operations model and natural attrition within key areas of the business which causes frequent disruptions, expensive and unnecessary payment of late fees and penalties and looking for a more efficient and affordable solution.

Challenges:

• Multiple companies and individuals acting as the registered agent in states
• Entities are not often registered to do business on time, missing deadlines
• State annual report and franchise taxes not completed or submitted on time
• Entities falling out of good standing and being revoked for non-compliance
• Wasted time and expense in frequently getting entities reinstated in multiple states
• Corporate records and annual meeting minutes not stored in a secured centralized area or kept current

Solutions:

• Audited entities in all states verifying the status
• Reinstated and/or formerly dissolved or withdrew entities in respective states to clean up corporate records
• Changed all entities under one umbrella for a single source Registered Agent Provider
• Implemented CorpliancePLUS® entity management solution for better tracking and management of compliance tasks as well as state and local licensing
• Imported key legal and compliance documents into CorpliancePLUS® for secure and centralized storage

Final Outcome:

• Annual cost-savings by putting all registered agent needs under one umbrella and improved results with entities not falling out of good standing.
• More efficient communications and improved efficiencies by housing corporate compliance in a central and secure repository.
• Monthly and quarterly task lists are now monitored and managed more effectively to maintain compliance.

To implement a better solution and practice for your corporate compliance needs, feel free to contact us.

WORK-LIFE BALANCE: 
MENTAL HEALTH MONTH & TIPS TO STAY HEALTHY


August is National Wellness Month! National Wellness Month was born out of the idea that in order to see positive results in our lives – such as build our careers, raise a family, further our education, create new ideas, and nurture our bodies — we need to take care of ourselves.

Though every month of the year is a struggle to maintain work-life balance, the month of August is a time to really drive down into what "wellness" means, both in our personal and professional lives.  

This year brings new meaning to wellness month, as we all continue to grapple and find new ways of dealing with the global health crisis.  If anything, being persistent is definitely a skill we get to exercise this year!

Uncertainty is on the rise, as well as financial pressures, daily alterations to our routines and new worries. Information overload, 24/7 news, anxiety and fear are additional stressors we are all dealing with on a daily basis. 

During the 31 days of August, people are asked to focus on self-care, managing stress and promoting healthy routines. Research has shown self-care helps manage stress and promotes happiness. Making small changes can have big impacts on our health. This includes taking care of the body, mind and interpersonal connections.

Here are some ways to practice self-care as recommended by the Mayo Clinic:

Take care of your body.
• Get enough sleep.
• Participate in regular physical activity.
• Eat healthy.
• Avoid tobacco, alcohol and drugs.
• Limit screen time.
• Relax and recharge.

Take care of your mind.
• Reduce stress triggers.
• Keep your regular routine.
• Limit exposure to news media.
• Stay busy.
• Focus on positive thoughts.
• Use your moral compass or spiritual life for support.
• Set priorities.

Connect with others.
Build support and strengthen relationships.
• Make connections.
• Do something for others.
• Support a family member or friend.

To read the entire article, including more in-depth descriptions for each recommendation provided by the Mayo Clinic, click here.

 
 

6300 S. Sixth Street
Springfield, IL 62712
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