Ontario Corporate Minute Books. Anyone who sets up a new corporation in Ontario needs to be able to quickly locate key organizational documents. Because these are really the constitution of your corporation, you’ll refer to them again and again. When using this book to produce corporate minute and consent forms,we will often refer you to these documents.if you have not already done so, the best approach is to set up a corporate records book that contains the key documents. you can do this on your own with a three-ring binder or by using a customized corporate kit designed for the purpose.
Your Ontario corporate records book should contain:
- Ontario articles of incorporation
- minutes of the first directors’ meeting
- stock certificate stubs or a share transfer
- ledger showing the names and addresses of your shareholders, as well as the number
and types of shares owned by each
- minutes of annual and special meetings of directors or shareholders, if any, and
- written consents.
If someone helped you incorporate, such as a lawyer, accountant, paralegal, or financial planner, you probably received copies of these documents in a corporate records book,commonly called a corporate minute book or company minute book. however,some lawyers attempt to hold on to corporate records in the hope that you will have them take care of all ongoing technicalities. if so, you will need to request a copy of all corporate documents in your client file. (This is your property, so don’t take “no” for an answer.) if you can’t locate a copy of your articles,write your province registries office and request a copy of your articles of incorporation.
Ontario Corporate Minute Books Made Easy. Every Ontario corporation is required by law to prepare and keep up-to-date its corporate records at its registered office (or at some other location in Canada, as set out by the directors). Failure to comply with this obligation can lead to fines of $25,000, and the officers and directors of the corporation may be personally liable.
CorporateMinuteBooks.ca offers fast & easy Ontario customized minute books in just 1 hour for only $49. Our corporate minute books contain all the documents your new corporation needs to be up to date and compliant with your province of incorporation business corporation act.
Why Your Ontario Corporation Needs a Corporate Minute Book?
Maintaining a minute book is required by law for all corporations in Canada.
It’s required by the Canada Revenue Agency (CRA)
Failure to comply with this obligation can lead to fines of $25,000
Helps to protect your corporate status
Failing to maintain adequate corporate records exposes your corporation to serious risks
Failing to keep corporate records can result in loss of shareholders and directors’ protection of personal assets.