Can I order additional stock, membership or partnership certificates beyond what comes in the Compliance Kit & Seal?
BizFilings’ Compliance Kit & Seal includes 10 custom Ownership Certificates for your business type. Additional certificates can be purchased separately if desired, or additional certificates can be purchased at a later date. There is a minimum purchase of 10 certificates.
Do I need ownership certificates if I do not offer ownership to the public?
Yes, corporations, limited liability companies (LLCs), limited partnerships (LPs) and limited liability partnerships (LLPs) all have owners and that ownership must be properly documented, even if ownership is not offered to the public. For corporations, issuing shares is a required formality. Even if you are the only shareholder, the corporation should issue your shares by providing a stock certificate that outlines the number of shares of stock you own. This issuance should also be recorded in the corporation’s stock transfer ledger. While LLCs, LPs and LLPs are not required to follow such steps, it is still recommended that they issue and properly document issuance of membership or partnership certificates to all owners.
What do I do with my certificates once I receive them?
You should issue the certificates to company owners at the initial meeting of directors (corporations), members/managers (LLCs) or partners (LPs or LLPs) just after your company is incorporated. You should record the shares and certificates issued in the transfer ledger, which is also included in BizFilings'Compliance Kit & Seal. Keep unused certificates in your Compliance Kit & Seal binder for use at a later date, for example, if you add additional owners to your company, or if a current owner changes his/her ownership percentage.