In Tennessee, a Certificate of Existence, which is also known as a Certificate of Authority, is a legal document that proves a company is in operation and in compliance with all applicable rules and laws. For many business procedures, such as acquiring finance, opening a bank account, or signing contracts with other organizations, this certificate is frequently necessary.
A corporate entity’s registration with the state and compliance with all legal criteria are both confirmed by the Certificate of Existence. This entails having a registered agent, paying all applicable fees, and submitting all essential paperwork, including taxes and reports.
A Certificate of Good Standing, on the other hand, is a record that certifies that a company entity is not only active and compliance with state rules and regulations, but also that all related taxes, fees, and other responsibilities have been paid. For larger corporate transactions like mergers, acquisitions, or foreign qualifications, this certificate is frequently necessary.
It’s crucial to understand that although having many similarities, a Certificate of Existence and a Certificate of Good Standing are not the same thing. A business entity’s good standing is not always indicated by a certificate of existence, and a certificate of good standing does not always imply that a business entity is allowed to operate in a specific state.
A Certificate of Existence is not the same as a Certificate of Formation, which brings us to the next relevant query. A Certificate of Formation establishes the formation of a new business entity, whereas a Certificate of Existence attests to the fact that an established business entity is permitted to operate in a specific state.
In Tennessee, the answer to the query “can I be my own registered agent?” is “yes.” There are, however, a few crucial things to remember. In Tennessee, you must first have a physical location where legal papers can be delivered during regular office hours. You will also be in charge of making sure that all legal documents are delivered and processed accurately and on schedule.
Finally, you will need to submit a request to the Alabama Secretary of State’s office in order to get a Certificate of Good Standing in Alabama. You will normally need to give information about your business entity, such as its name and address, as well as evidence of compliance with state rules and regulations, in order to fulfill this request, which can be made in person, by mail, or online.
For the purpose of executing various commercial operations in Tennessee and other states, it is essential to comprehend the distinction between a Certificate of Existence and a Certificate of Good Standing. Along with having a registered agent or physical address for legal service, it’s crucial to make sure your business entity is consistent with state laws and regulations and that it is registered.