[3] Similarly, a person who is in good standing within an organization or educational institution may take advantage of the benefits of membership or enrollment.
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.
[7] This can either be to allow a company to conduct business abroad (by ensuring other regulatory agencies are satisfied that the company has complied with applicable requirements) or to provide further guarantee to lenders or other parties entering into financial agreements.
[8] In some cases, good standing will be used as a criterion to help prevent fraudulent applications for important documents.
For instance, when applying for a British passport, your application must be countersigned by a personal acquaintance who "has ‘good standing’ in your community".