Author: CozienLaw
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Annual Returns for Business Corporations
Business corporations are required to file annual returns, which serve as confirmation of the corporation’s active status. However, the process of filing an annual return, the consequences of non-compliance, and the content of the form vary depending on the corporation’s governing statute. For this article, we focused on corporations incorporated under the Canada Business Corporations…
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How to Become a Shareholder of a Corporation as an Incorporator
An incorporator is an individual or entity that, whether acting alone or with others, initiates the formation of a corporation by signing and filing articles of incorporation. The incorporators are also responsible for designating the corporation’s first directors and initial registered office address. On the other hand, shareholders are individuals or entities who own shares…
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Condominium Corporation’s Reserve Fund Study
A reserve fund is a separate account maintained by a condominium corporation specifically for major repairs and replacement of common elements and assets. A condominium corporation is statutorily required to periodically obtain a reserve fund study. Reserve Fund Study A reserve fund study is a routine assessment of a condominium corporation to make sure it…
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Business Corporation’s Borrowing Bylaw
This article briefly discusses what a corporation’s borrowing bylaw is, when it is required, its content and alternatives. What is a borrowing bylaw? It is an important document of a corporation, which outlines how the corporation borrows money. Power to Borrow Money A corporation has the capacity and powers of a natural person, including entering…