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What Is A Certificate Of Incumbency?

What Is A Certificate Of Incumbency?

A Certificates of Incumbency is a document 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 Certificate of Incumbency explains which people hold which positions within the company; it is typically used to confirm the identities of an organization’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 Certificates of Incumbency?

Outside of the United States, this document goes by other names, equivalent to Register of Directors, Secretary’s Certificates, Officer’s Certificates or Certificates of Officers.

What Data Is Listed on a Certificate of Incumbency?

The Certificates of Incumbency displays the names and positions of the company’s directors and officers. It additionally includes information associated to whether or not they were appointed or elected, and the time period of their office.

When Is a Certificates of Incumbency Utilized?

A Certificate of Incumbency may be requested by a bank when the corporate is opening an account or starting any major transaction. Likewise, the certificate may very well be requested by a financial institution, an attorney or anyone else who wants to verify the authorizedity and said position of a director or officer within the corporation.

Who Releases a Certificates of Incumbency?

The corporate secretary (who is liable for sustaining corporate records within the company) issues a Certificate of Incumbency, which typically has a corporate seal on it and the Secretary’s signature. Typically the Secretary’s signature is notarized by a notary public.