When do I use a Common Seal? For example, the statute of limitations to enforce a written contract in Delaware is three years, unless the contract is made under seal in which case there is no limitation period. Any legal or official document that emanated from the corporation required a corporate seal. It sometimes contains stock certificates, bylaws, and the articles of incorporation. 3 The company has a desktop version for $2 more that looks like it is a better solution. The seal usually includes the company's name, date and state of formation. The seal typically includes your LLC’s name, the date it was formed and the state where it was formed. A company seal is a legal requirement with a limited company. If you own a Singapore company, be it private limited company or limited company, chances that you need to have a common seal for the company’s use to issue share certificates to its shareholders as well as for title deeds. While corporate kits, which are not required of corporations, are not required of LLCs either, you may choose to have an LLC kit, which is like a corporate kit. A corporate kit is usually a binder that contains the corporation's important documents, such as the corporation meeting minutes and the corporate seal. Your access to the website is subject to our Company seals. Our LLC Kit includes a 3-ring binder with slipcase, dividers, 20 “Member” Certificates, an LLC Seal, a Member Ledger and comes with the company name embossed on the outside of the binder as well as imprinted in the LLC Seal. All rights reserved. Irish company law requires that every company must have a company seal. Many business owners find these business reports to be vital to their success. Corporate kits are not expensive, but if you want to save some money, you can do without the kit so long as you have a corporate minute book. The LLC members can address the situation by creating a written resolution indicating the employee's authorization, which is signed by the members or manager. Here are several options available for setting regular payments to yourself. Back to Top. Initially in the 1989 Companies Act and then in the 2006 Companies Act the use of a company seal was made optional. Not only does it organize your important documents, but also it is good to have in the event that accountants or other professionals need access to your corporation's documents. A company seal is required by law and must be used on all official documents. Ronna L. DeLoe is a freelance writer and a published author who has written hundreds of legal articles. It provides a single place to store the corporation's most important papers and the corporate books and seal. Company Seal - Plier - €54 ex vat. What are your annual reporting requirements as a small business? Do I need a Company Seal for my Seychelles International Business Company? Most states require that S corporations keep meeting minutes. LLCs do not require corporate minutes (since LLCs do not hold shareholder meetings); nor is an LLC kit required. The use of seals in one form or another goes back thousands of years. State LLC laws also give the members the option of appointing a single member or group of members to manage the LLC. There is no legal requirement to use a company seal when executing contracts. Hong Kong A corporate or company seal and stamp is a legal requirement. Similar to a state seal, the corporate seal was the official mark of the corporation. The seal may no longer be required due to retirement, company acquisition or when a company is dissolved/wound up. A seal is a legal tool and as such certain steps should be taken to dispose of a corporate seal correctly and ensure it is properly disposed of. Some lawyers recommend getting the kit upon forming the corporation, or shortly thereafter, so you have a way to organize your documents; other lawyers believe the kit is optional.