A document that attests to the existence and standing of a company registered with the state of Illinois is known as an Illinois Certificate of Good Standing. The certificate shows that the business has met with all filing requirements and is in good standing with the Illinois Secretary of State’s office. A Certificate of Status or a Certificate of Existence are other names for it.
A document issued by the Illinois Secretary of State’s office that attests to a business entity’s registration with the state is known as an Illinois Certificate of Registration. It includes details such as the company’s name, entity type, founding date, and registered agent. This document is frequently needed by businesses when they submit applications for licenses or permits, open bank accounts, or sign contracts.
Normally, an Illinois Certificate of Good Standing is good for 90 days after it is issued. However, this might change based on the asking party’s particular needs. While some firms would want a more recent certificate, others might accept one that is more than 90 days old.
A business entity’s present status as a registered business with the Illinois Secretary of State is referred to as its certificate status. It is possible for the status to be “Active” or “Inactive.” The corporation is in good standing and has satisfied with all filing obligations if it has an active status. When a corporation has an inactive status, it signifies that it has neglected to submit required documents or pay required fees, and it could be susceptible to administrative dissolution.
How much time does a Certificate of Good Standing last? Depending on the state and the particular criteria of the seeking party, a Certificate of Good Standing’s duration varies. The certificate is normally good in Illinois for 90 days after it is issued. Some firms, though, might demand a more recent certificate, while others might accept one that is more than 90 days old. It is crucial to get clarification from the person making the request regarding their specific needs.
In conclusion, a certificate of good standing issued by the state of Illinois is a requirement for each company that registers to conduct business there. It offers proof that the business has followed with all relevant filing requirements and is in good standing with the state. The certificate’s normal validity is 90 days from the date of issuance, although this can change based on the demands of the party making the request. To retain an Active status and prevent administrative dissolution, it’s critical to pay attention to all required filings and fees.