A Certificate of Incumbency is a document issued by an organization (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 verify the identities of an organization’s officers, i.e., to prove they are 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 Certificate or Certificates of Officers.
What Information Is Listed on a Certificates of Incumbency?
The Certificates of Incumbency displays the names and positions of the corporation’s directors and officers. It also contains data related to whether they have been appointed or elected, and the time period of their office.
When Is a Certificate of Incumbency Utilized?
A Certificates of Incumbency may be requested by a bank when the company is opening an account or beginning any major transaction. Likewise, the certificate may very well be requested by a monetary institution, an lawyer or anyone else who desires to confirm the authorizedity and acknowledged position of a director or officer within the corporation.
Who Releases a Certificate of Incumbency?
The corporate secretary (who’s answerable for sustaining 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.