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What Is a Certificates of Incumbency?
A Certificate of Incumbency is a document issued by an organization (or LLC) that outlines the corporate officers of the corporate by listing the names of the directors, the officers and, generally, the shareholders.
A Certificate of Incumbency explains which people hold which positions within the corporate; it is typically used to substantiate the identities of an organization’s officers, i.e., to prove they are sanctioned to be involved with legal transactions on behalf of the company.
Are There Other Names for a Certificates of Incumbency?
Outside of the United States, this doc goes by other names, reminiscent of Register of Directors, Secretary’s Certificates, Officer’s Certificates or Certificate of Officers.
What Info Is Listed on a Certificates of Incumbency?
The Certificates of Incumbency displays the names and positions of the company’s directors and officers. It also consists of info associated to whether they had been appointed or elected, and the time period of their office.
When Is a Certificates of Incumbency Utilized?
A Certificates of Incumbency could also be requested by a bank when the company is opening an account or beginning any major transaction. Likewise, the certificates might be requested by a financial institution, an lawyer or anybody else who desires to substantiate the legality and stated position of a director or officer within the corporation.
Who Releases a Certificate of Incumbency?
The corporate secretary (who's liable for sustaining corporate records within the company) points a Certificate of Incumbency, which typically has a corporate seal on it and the Secretary’s signature. Typically the Secretary’s signature is notarized by a notary public.
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