A Certificate of Good Standing is often required in order to obtain a loan, renew a business license or for the filing of taxes. The document will verify that the organization is compliant within the state of incorporation and therefore is in “Good Standing”. It is also known as a Certificate of Existence or a Certificate of Status, the Good Standing Certificate is a one page document provided by the Secretary of State and provides conclusive evidence of the status of the entity. In many cases it can be valid up to three months.
To obtain a Good Standing Certificate, the business entity must be registered as a legal entity with the Secretary of State, and cannot be in default of corporate regulations, suspended or revoked by the state.
Requirements to obtain a state Good Standing Certificate:
- The company must be registered as a legal entity with the appropriate state governing authority.
- The company cannot be in default or suspended as defined by the state.