A Certificates of Incumbency is a document 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 individuals hold which positions within the corporate; it is typically used to confirm the identities of a company’s officers, i.e., to prove they’re sanctioned to be concerned with legal 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, akin to Register of Directors, Secretary’s Certificate, Officer’s Certificate or Certificates of Officers.
What Info Is Listed on a Certificates of Incumbency?
The Certificates of Incumbency displays the names and positions of the corporation’s directors and officers. It additionally includes data associated to whether or not they had been appointed or elected, and the term of their office.
When Is a Certificate of Incumbency Utilized?
A Certificate of Incumbency could also be requested by a bank when the company is opening an account or beginning any main transaction. Likewise, the certificates could possibly be requested by a monetary institution, an attorney or anyone else who needs to verify the authorizedity and acknowledged position of a director or officer within the corporation.
Who Releases a Certificate of Incumbency?
The corporate secretary (who is accountable for maintaining corporate records within the corporate) points 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.