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, sometimes, the shareholders.
A Certificate of Incumbency explains which individuals hold which positions within the corporate; 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 doc goes by other names, reminiscent of Register of Directors, Secretary’s Certificates, Officer’s Certificate or Certificate of Officers.
What Information Is Listed on a Certificate of Incumbency?
The Certificate of Incumbency displays the names and positions of the company’s directors and officers. It also includes information associated to whether they had been 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 company is opening an account or starting any main transaction. Likewise, the certificates might be requested by a monetary institution, an attorney or anyone else who desires to substantiate the legality and stated position of a director or officer within the corporation.
Who Releases a Certificates of Incumbency?
The corporate secretary (who’s answerable for maintaining corporate records within the corporate) 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.