A Certificates 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, typically, the shareholders.
A Certificates of Incumbency explains which individuals hold which positions within the company; it is typically used to confirm the identities of a company’s officers, i.e., to prove they’re sanctioned to be involved with authorized transactions on behalf of the company.
Are There Different Names for a Certificates of Incumbency?
Outside of the United States, this doc goes by different names, corresponding to Register of Directors, Secretary’s Certificates, Officer’s Certificates or Certificates of Officers.
What Information Is Listed on a Certificates of Incumbency?
The Certificate of Incumbency displays the names and positions of the company’s directors and officers. It also consists of information related to whether they were appointed or elected, and the term of their office.
When Is a Certificates of Incumbency Utilized?
A Certificate of Incumbency could also be requested by a bank when the corporate is opening an account or beginning any major transaction. Likewise, the certificate may very well be requested by a financial institution, an lawyer or anyone else who desires to confirm the legality and said position of a director or officer within the corporation.
Who Releases a Certificate of Incumbency?
The corporate secretary (who’s accountable for sustaining corporate records within the company) points a Certificates 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.