A new corporation almost always issues shares to record the ownership interests of the persons who invest in the corporation. Most smaller corporations issue shares for cash, property, or the performance of services that were rendered in forming the corporation. Many provinces prohibit the issuance of shares in return for a promise to pay for […]
Archive | Corporate Records
Minutes of the First Directors’ Meeting
When most businesses incorporate, they prepare minutes of the first meeting of the corporation’s board of directors or of the incorporators (the person or persons who signed and fled the articles on behalf of the corporation). This meeting is usually referred to as the organizational meeting of the corporation. Minutes are simply a formal record […]
Tree Ways to Make and Document Formal Corporate Decisions
There are three basic ways to make and document formal corporate decisions made by a corporation’s board of directors or shareholders. They are: • real meeting with minutes • paper meeting with minutes, and • action by written consent Real Meeting With Minutes Your directors or shareholders and all interested parties get together in a […]
The Importance of Protecting Your Corporate Status
By corporateminutebooks on April 16, 2019 in Alberta Corporate Minute Books, British Columbia Corporate Minute Books, Corporate Minute Books canada, Corporate Records, Manitoba Corporate Minute Books, New Brunswick Corporate Minute Books, Newfoundland Corporate Minute Books, Nova Scotia Corporate Minute Books, Ontario Corporate Minute Books, Quebec Corporate Minute Books, Saskatchewan Corporate Minute Books, Yukon Corporate Minute Books
A corporation is a legal entity that is created and regulated by state laws. For legal, practical, and tax purposes, a corporation is legally separate from any of the people who own, control, manage, or operate it. If you want the advantages of having a corporation, you must follow legal requirements for running it. If […]
Corporate records and filing obligations for Canadian Corporations
A corporation is required to keep certain records at its registered office or at some other location in Canada chosen by the board of directors. These records must include the following: all articles of the corporation, (for ex., articles of incorporation, articles of continuance or articles of amalgamation); by-laws and their amendments; and unanimous members […]
The Importance of a Corporate Minute Book
A corporate minute book is important to your company. It maintains a record of the significant decisions, rules, and regulations of your company. It mentions key persons in the company and their responsibilities. It can reveal information about shareholders and other corporate affiliations. Your corporate minute book should present an accurate record of major happenings […]
Organizing Your Corporation: First meeting of shareholders
Officers are responsible for the day-to-day operations of the corporation. The directors are responsible for appointing officers. With the directors, the officers will form the management of the corporation. Officers can take any position that the directors want them to fill (for ex., president, secretary or any other position). The first meeting of shareholders The […]
Organizing Your Corporation: Appointing the officers
Officers are responsible for the day-to-day operations of the corporation. The directors are responsible for appointing officers. With the directors, the officers will form the management of the corporation. Officers can take any position that the directors want them to fill (for ex., president, secretary or any other position). Fast & Easy Canada Corporate Minute […]
Organizing Your Corporation: Making by-laws
By-laws are rules that govern the internal operations of a corporation. For example, you might want to set some rules for your corporation that are not dealt with in the Business Corporations Act (BCA). You also might want to modify some of the rules that are in the BCA, as long as those changes are […]
Keeping your corporation in good standing
To make sure that your corporation continues to benefit from incorporation under your jurisdiction of incorporation business corporation act, you need to fulfill certain requirements with your jurisdiction of incorporation corporate registry office. Depending on the type of requirement, you need to file annually or when circumstances change. Namely, you must: Filing an annual return: […]