What Is a Corporate Secretary? A Corporate Secretary is one of three essential senior officer positions typically found within a corporation. Along with the President and Treasurer, the Corporate Secretary rounds out the core officer positions that a company appoints when initially incorporating. The Corporate Secretary works closely with c-suite executives and the Board of […]
Continue Reading
Is A Non-Stock Corporation a Non-Profit? A non-stock corporation is not a non-profit by default. Forming a non-stock corporation is just the first step to becoming a non-profit. An organization must have additional filings approved by the IRS to be granted 501(c)(3) tax exempt status. A non-profit organization does not have any stock by definition. […]
Continue Reading
What Is An LLC Membership Certificate? LLC membership certificates look like stock certificates issued by a corporation, however, they do not function in the same way. The certificate lists the name of an LLC member and details their ownership interest in the company. The law does not require LLCs to issue membership certificates. This […]
Continue Reading
What Is A Certificate of Incumbency? A Certificate of Incumbency is an internal company document that provides details about the company’s leadership at a moment in time. Certificates of Incumbency are particularly useful for verifying authorized people within a company during processes like opening bank accounts or securing financing. For corporations, the Certificate of Incumbency […]
Continue Reading
What Does “Incorporation” Mean, Exactly? “Incorporation” is the process that many business owners go through to legally separate themselves from their business and protect their personal assets. Incorporating a business means filing documents in a state to turn the business into a legal entity. Most businesses incorporate as either a corporation or a limited liability […]
Continue Reading
Here we cover how an LLC can open a bank account and what documents may be required. What is an LLC Bank Account? An LLC bank account is a business bank account opened specifically for a Limited Liability Company (LLC). Opening a separate bank account is an important part of setting up a business as […]
Continue Reading