Business Law

Business, Business Law

Year 3

business entity regulations

Prepare a 350-word description of business entity regulations in Washington State as they pertain to insurance companies. Be sure to include the following in your paper: (a) Identify the business formation code(s) in the state, (b) Identify the address of the state's corporation commission, and (c) Describe the process for obtaining an "annual filing report" for a corporation currently registered in the state. Use the Internet as your primary method of research. http://www.insurance.wa.gov/

Can you please assist me in the problem!! I am at a loss!!! I greatly appreciate the help! Thank you!

Response:

It seems that the best way to approach this problem, and others like it, is to first read over the questions several times to grasp and determine what exactly the questions are asking for, and now you will be ready to begin your research, and with a clear idea of what it is you are looking for.

Let’s first try the link that you provided above (or, if necessary, other Internet sites using variations of the words asked in the question (i.e., business entity regulations, state corporation commission, business formation codes in Washington, etc.).

I clicked on the link and I begin to search the site for pertinent information, clicking on the various links on the left hand side and found little in regards to this questions, and scanned the site and found it not user friendly, at least not at first. Did you find it the same way? I didn’t seem to find much information required.

Then I found a link that might be more useful so I clicked on the “State Government Access link” by scrolling further down on the right hand side towards the bottom.

Great! Scroll down the information and notice the Frequently Asked questions link. This is often a good place to start looking for information, so click on the frequently asked questions. It is important to learn a site, which is often time consuming (and sometimes frustrating); however, go through the process so you get a feel for the site and where to locate the information that you need. Now scan the frequently asked questions to see if any pertinent information jumps out at you.

Great! Notice that much of the required information is embedded in these questions, which I will leave intact, and you can then use the information from these questions to formulate the final copy for these questions. Let’s now look at the specific questions:

(a) Identify the business formation code(s) in the state,

Interestingly, though, there is no mention of a business formation code in these questions http://www.secstate.wa.gov/corps/faq.aspx#q16, but only UBI and FEIN numbers. So we will have to try another site. Go to google search engine and use the search word’s “business formation code(s)” in the state and let’ see what we can come up with. Many “hits” but nothing relevant. Now what? I am wondering if the UBI and FEIN are considered the business formation code(s), but let’s look at bit further before we draw this conclusion. Let’s try the another search using the google search engine using the search words “State’s Corporate Commission” to see if they use “business formation codes” terminology. No luck.

Let’s go back to http://www.insurance.wa.gov/. Scroll down to the Access Washington, State Government Home Page which looks like the following (at the right hand side of the site) and Click:

State Government Home Page

Now, click on “Services A-Z” located at the top of the site, which takes us to the Index or glossary, so scroll down to the “C” section of the index and clicked on Corporations. Still no mention of business formation codes. Check it out; what do you think? Should we go with the UBI and FEIN as the formation code?

Indeed, it could be that the UBI and FEIN numbers are indeed the business formation codes.

(b) Identify the address of the state's corporation commission, and

The favorite questions had two potential questions with the same contact information, followed by contact information for the specific commission division, as shown from the questions below:

Where is your office located and what are the hours?

A: Our physical address in Olympia is 801 Capitol Way South, Olympia, WA 98501. We are open from 8 AM to 5 PM Monday