The certificate "proves" that the corporation has met the state requirements for the year, not that they will be able to repay the loan.
Even if the corporation is suspended for not meeting the state requirements, you probably have assets and/or guaratees that you can rely on.
A good practive, yes, but not a legal requirement that I know of.
Al Miller, CRCM
Fremont Bank (CA)
(510) 505-5211 FAX
Opinions expressed are my own and not necessarily shared by my employer.