Now that we know why we must maintain annual resolutions for a company, we must also know how to maintain annual resolutions for a company. All Business Corporations Act (Ontario) (“OBCA”) corporations and Canada Business Corporations Act (“CBCA”) corporations, no matter how small and inactive they are, must hold at least: one annual meeting of Shareholders, and
Minute Books for Ontario and Canada Corporations are important. Luckily, they can be easy to complete.
Since shareholders have invested their money in a corporation, they have some protections in place. In addition to any rights provided by an applicable shareholder agreement, the Business Corporations Act (Ontario) (“OBCA”) and the Canada Business Corporations Act (“CBCA”) provide shareholders with some rights. These rights are intended to give shareholders protections and to foster transparency in the
At times, the aims of a corporation can change. For example, a corporation may wish to become a not-for-profit corporation to better align itself with its actual working. Rather than dissolving its current form and starting a new corporation, the corporation can be continued as a not-for-profit corporation. This articles will discuss how a for-profit
Minute Books for Ontario and Canada Corporations are important. Luckily, they can be easy to complete.
Every couple months, I get a call from a business owner saying, ‘My business partner is stealing from the business, what do I do?’ I shudder knowing that it will be sometime before their life returns to ‘normal’. It is helpful to know what recourse a business owner has in the awful event that their
Now that we know why we must maintain annual resolutions for a company, we must also know how to maintain annual resolutions for a company. All Business Corporations Act (Ontario) (“OBCA”) corporations and Canada Business Corporations Act (“CBCA”) corporations, no matter how small and inactive they are, must hold at least: one annual meeting of Shareholders, and
If you have not maintained annual resolutions for your corporation, you should address this issue immediately. Both the Business Corporations Act (Ontario) (“OBCA”) and the Canada Business Corporations Act (“CBCA”) require annual corporate resolutions to be maintained and it is an offense not to maintain corporate records. In addition to maintaining annual corporate resolutions, an