certificate of good standing

  

Definition

A certificate issued by a proper authority in a ujrisdictionto verify that a corporation actually exists, has paid all its statutory dues, has met all filing requirements and, therefore, is authorized to transact business in that state. Also called certificate of authorization or certificate of existence.

Use this term in a sentence

  • We received a certificate of good standing and we knew that we were on the right track as a company.

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  • They felt sure that since receiving the Certificate of Good Standing that their revenue would increase as their reputation grew.

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  • In order to successfully start your business selling time machines, you must first obtain a certificate of good standing which verifies that your business exists, have paid your dues, have met all filing requirements and are therefore authorized to transact business in your state.

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