232:, there may be criteria for becoming a member and maintaining membership. Such criteria may include payment of dues or attendance of meetings. Failure to meet these criteria may result in loss of "good standing" within the organization or loss of membership in the organization altogether. Unless the organization defines "good standing" and what causes a member to lose good standing, a member has all the rights of membership even if in arrears in payment of dues.
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In some cases, a bank may require an entity wanting to open an account such as a checking or savings account to show a certificate of good standing from the chartering agency. Also, a corporation or other limited liability entity wishing to register in another jurisdiction as a foreign corporation
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is said to be in good standing if it has filed and continued to file all appropriate paperwork with the government agency which provides its charter, and has paid all fees which are due for its charter or the renewal thereof. When an entity is in good standing with the chartering agency, it may
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is regarded as having no financial obligations. A business entity that is in good standing has unabated powers to conduct its activities, which can include business endeavors. Similarly, a person who is in good standing within an organization or educational institution may take advantage of the
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Note that being in "good standing" simply means the entity has kept all paperwork related to its charter and yearly renewal up to date and that all fees have been paid. It is possible for a corporation or limited liability entity to be simultaneously:
161:(or foreign limited liability company, partnership, etc.) will have to provide to that jurisdiction a copy of a certificate of good standing from its home jurisdiction to be able to register in the new jurisdiction.
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As long as the paperwork and fees are current with the chartering authority, the entity will still be in "good standing."
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being sued for causing people to die due to its products being defective, and
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have the entire board of directors indicted for suspected criminal behavior
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In some cases, good standing will be used as a criterion to help prevent
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by a personal acquaintance who "has ‘good standing’ in your community".
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applications for important documents. For instance, when applying for a
302:"Corporate Compliance: The Consequences of Losing Good Standing Status"
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and the absence of any pending action to remove the company from the
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having its property seized for unpaid state and federal income taxes
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In the United
Kingdom, Certificates of Good Standing are issued by
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subjected to an audit for unpaid payroll. unemployment, and/or
479:(11th ed.). Philadelphia, PA: Da Capo Press. p. 6.
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328:"4 Reasons to Stay in Good Standing for Business Compliance"
451:"What a Certificate of Good Standing is and how to get one"
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to confirm the continuous existence of a company since
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involved in an investigation for labor law violations
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501:"Countersigning passport applications and photos"
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472:Robert, Henry M.; et al. (2011).
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377:International Society of Ethnobiology
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