A Certificates of Incumbency is a doc issued by an organization (or LLC) that outlines the corporate officers of the company by listing the names of the directors, the officers and, sometimes, the shareholders.
A Certificates of Incumbency explains which people hold which positions within the company; it is typically used to substantiate the identities of an organization’s officers, i.e., to prove they are sanctioned to be involved with authorized transactions on behalf of the company.
Are There Different Names for a Certificate of Incumbency?
Outside of the United States, this document goes by other names, corresponding to Register of Directors, Secretary’s Certificate, Officer’s Certificates or Certificate of Officers.
What Information Is Listed on a Certificate of Incumbency?
The Certificate of Incumbency displays the names and positions of the corporation’s directors and officers. It additionally contains info associated to whether they have been appointed or elected, and the time period 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 starting any major transaction. Likewise, the certificates could possibly be requested by a monetary institution, an legal professional or anybody else who needs to verify the legality 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 company) points a Certificate 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.