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What Is a Certificate of Incumbency?
A Certificate of Incumbency is a doc issued by a corporation (or LLC) that outlines the corporate officers of the corporate by listing the names of the directors, the officers and, generally, the shareholders.
A Certificates of Incumbency explains which people hold which positions within the corporate; it is typically used to confirm the identities of a company’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 Certificate of Incumbency?
Outside of the United States, this doc goes by other names, resembling Register of Directors, Secretary’s Certificates, Officer’s Certificates or Certificates of Officers.
What Data Is Listed on a Certificates of Incumbency?
The Certificate of Incumbency displays the names and positions of the company’s directors and officers. It additionally includes info related to whether or not they had been appointed or elected, and the term of their office.
When Is a Certificates of Incumbency Utilized?
A Certificate of Incumbency may be requested by a bank when the corporate is opening an account or beginning any main transaction. Likewise, the certificates could possibly be requested by a monetary institution, an lawyer or anybody else who desires to verify the legality and acknowledged position of a director or officer within the corporation.
Who Releases a Certificates of Incumbency?
The corporate secretary (who is 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. Usually the Secretary’s signature is notarized by a notary public.
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