You may be asked to provide a certificate of existence for your Maine limited liability company (LLC). Banks and creditors often ask for this document before issuing business credit to ensure you comply.
A Maine certificate of existence is relatively easy to obtain, but it does take some know-how.
What Is a Maine Certificate of Existence?
In Maine, a certificate of existence, known as a certificate of good standing in most states, verifies that your LLC complies with state regulations. The state will issue the certificate once you’ve met all deadlines and filed all relevant reports.
You’re not required to get a certificate of existence in Maine, but banks and creditors might request one, so it’s wise to have it on hand.
In What Situations Would I Need a Certificate of Existence?
A bank or creditor might request a certificate of existence as part of their due diligence and risk assessment when they apply for a business loan or business credit. This simply confirms that your business has no outstanding regulatory issues.
In addition, if you expand your business to other states, you’ll have to register as a foreign LLC. In such cases, the new state may request a certificate of existence from your home state.
Requirements to Obtain a Certificate of Existence in Maine
You must have a registered business entity in the state, either an LLC or a corporation. Sole proprietorships and partnerships do not register with the state, so they cannot obtain a certificate of existence.
You’ll also need to be up to date on all Maine business licenses, permits, and reporting requirements for your LLC or corporation in Maine.
Which Department Issues Certificates of Existence in Maine?
In Maine, the Bureau of Corporations issues certificates of existence but only accepts written requests. You can mail the request to:
Bureau of Corporations
101 State House Station
Augusta, ME 04333-0101
The fee is $30, and, assuming your LLC is in full compliance, you should receive your certificate within ten days.