Most shareholder agreements include an option to buy out a shareholder if certain events happen, for example: if the shareholder dies (you probably don’t want to be in business with that shareholder’s estate); if the shareholder becomes disabled for a certain period of time; if the shareholder gets divorced and the ex-spouse would otherwise be […]
You’re getting along with the other shareholders of your corporation and you are agreeing on everything – great! This is the best time to put a shareholders’ agreement in place. If you wait until there’s a problem, you’ve waited too long and it’s now too late. If you aren’t getting along, the last thing that […]
If you own your corporation with one or more other shareholders, you need a shareholder agreement. The law doesn’t automatically provide for a buyout if one shareholder dies, or gets divorced, or becomes disabled, or what happens if the shareholders aren’t getting along. In the example of shareholders with irreconcilable differences, the Business Corporations Act […]
Some common situations that most shareholder agreements try to address are: What happens if a shareholder dies or becomes disabled, or gets divorced? What happens if the shareholders aren’t getting along? What happens if a shareholder wants to sell their shares to a third party? How is the company going to distribute dividends, or make […]
Each year, the corporation has to have certain director meetings and shareholder meetings that follow the strict rules that are set out in the Business Corporations Act (Alberta), unless all of the directors and all of the shareholders sign written resolutions instead of having those meetings. With a small, closely-held corporation, the directors and shareholders […]
Every corporation in Alberta must have a “registered office” address listed with Corporate Registry. The registered office is the address where the minute book should be kept, and also where legal documents can be served on the corporation. Also, directors, shareholders, and other stakeholders of the company have rights to see the certain corporate documents […]
Every corporation is required to have certain documents such as articles, bylaws, director resolution, shareholder resolutions, share certificates, share registers, and ledgers to name a few. All of those documents go into a binder called the minute book. Every corporation is required by law to have a minute book, but there are other reasons to […]
The name for your corporation always has to end in a “legal element”. A legal element is the “Ltd.”, “Limited”, “Inc.”, “Incorporated”, “Corp.”, or “Corporation” that goes at the end of the name. What’s the difference between those six things? Nothing – they all mean the same thing in Alberta. Pick whichever one you think […]
The price to incorporate is made up of a few different parts, so when you’re looking at prices to incorporate, take all of these things into account – don’t just look at the “incorporation fee” that is listed since that usually just refers to the fee to file the Article sof Incorporation. The first part […]
Every corporation carrying on business in Alberta must be registered in Alberta, but it doesn’t need to be an Alberta company. For example, a corporation from another province that is carrying on business in Alberta can be “extra-provincially” registered to meet that requirement. This also applies to federal corporations that are carrying on business here […]