What are By-laws of the Corporation

What are By-laws of the Corporation


What are "By-laws" of the Corporation?

The general By-Laws of the corporation govern the day-to-day activities of the corporation. The By-Laws vary depending upon the corporation, but in general they deal with matters such as the registered office, corporate seal, fiscal year, authority to dispose of securities, borrowing powers and general information concerning the officers, directors, shareholders' meetings, transfer of shares, payment of dividends, loans and notice requirements. The By-Laws must be ratified by a resolution of the board of directors. As soon as the resolution is adopted, the By-Laws come into effect.

The By-Laws (with the exception of the various provisions relating to the agents, officers and servants of the corporation) will only have effect until the next annual shareholders' meeting of the corporation, unless they are ratified in the meantime by a general meeting of the corporation. If the By-Laws are not confirmed at the annual meeting, they will cease to have effect from that date.


To learn more or to perform some compliance check out our site: https://www.corpcentre.ca/compliance-centre/ 


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