A Certificate of Good Standing, also called a "Certificate of Existence" or "Certificate of Authorization," is a state-issued document that shows that your corporation or limited liability company (LLC) has met its statutory requirements and is authorized to do business in that state.
Also asked, what does it mean if a company is not in good standing?
If a business entity doesn't maintain good standing, the state will likely make an involuntary adverse status change for the company, labeling it, on its public records, as delinquent, void, suspended or dissolved, depending on the state and the nature of the compliance issue.
Also to know, how do you know if a company is in good standing?
Check your good standing status by searching for your business on the Secretary of State website—you will know you are in good standing if your status is “Current-Active.” There will also be a link provided to file your annual report there, if needed.
How do I write a good standing letter?
Starting to Write
- Keep the letter brief, addressing only the information required.
- Verifying good standing can be as simple as asserting that the entity in question is in good standing.
- If the letter relates to character, briefly outlining the person's positive qualities can help.
What is the meaning of good standing?
A person or organization in good standing is regarded as having complied with all their explicit obligations, while not being subject to any form of sanction, suspension or disciplinary censure.