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What Is a Certificate of Incumbency?
A Certificates of Incumbency is a doc issued by a company (or LLC) that outlines the corporate officers of the company by listing the names of the directors, the officers and, sometimes, the shareholders.
A Certificate of Incumbency explains which folks hold which positions within the company; it is typically used to verify the identities of an organization’s officers, i.e., to prove they're sanctioned to be concerned with authorized transactions on behalf of the company.
Are There Other Names for a Certificate of Incumbency?
Outside of the United States, this document goes by different names, such as Register of Directors, Secretary’s Certificates, Officer’s Certificates or Certificates of Officers.
What Information Is Listed on a Certificate of Incumbency?
The Certificates of Incumbency displays the names and positions of the company’s directors and officers. It also contains data associated to whether they have 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 corporate is opening an account or starting any main transaction. Likewise, the certificate may very well be requested by a financial institution, an legal professional or anyone else who desires to verify the authorizedity and stated position of a director or officer within the corporation.
Who Releases a Certificate of Incumbency?
The corporate secretary (who is liable for maintaining corporate records within the corporate) issues 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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