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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 company by listing the names of the directors, the officers and, generally, the shareholders.
A Certificates of Incumbency explains which individuals hold which positions within the company; it is typically used to verify 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 Different Names for a Certificates of Incumbency?
Outside of the United States, this document goes by different names, equivalent to Register of Directors, Secretary’s Certificate, Officer’s Certificates or Certificate of Officers.
What Information Is Listed on a Certificates of Incumbency?
The Certificate of Incumbency displays the names and positions of the corporation’s directors and officers. It also consists of info associated to whether or not they were appointed or elected, and the term of their office.
When Is a Certificate of Incumbency Utilized?
A Certificate of Incumbency may be requested by a bank when the company is opening an account or beginning any major transaction. Likewise, the certificate might be requested by a monetary institution, an attorney or anybody else who desires to substantiate the authorizedity and stated position of a director or officer within the corporation.
Who Releases a Certificate of Incumbency?
The corporate secretary (who is answerable for maintaining corporate records within the company) issues a Certificates of Incumbency, which typically has a corporate seal on it and the Secretary’s signature. Often the Secretary’s signature is notarized by a notary public.
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