Charter Instruments

Updated 1 year ago by Emily Kirby

CHARTER TYPE, EFFECTIVE DATE & STATUS:

  • Select the type of Charter document you wish to record and/or produce.

  • If you are providing information about the Corporation’s first Charter Instrument, the Charter Instrument type must be Articles of Incorporation, Amalgamation or Continuance.

  • For subsequent Charter Instruments, additional Charter types are available including: Amendment, Dissolution, Revival, Arrangement, Reorganization, Application for Authorization to Continue in Another Jurisdiction and Restated Articles of Incorporation.

  • Once the Charter Instrument has been filed, you will include the “Effective Date” of the Charter and select the “Status” of “Completed”. This date will be used for reporting to the client and the Corporate Summary.

  • If you are entering information about a Charter Instrument yet to be produced, then you may enter an “Effective Date” or leave it blank to get a blank date line – however, you must select the “Status” of “To Be Documented” in order for the Charter Instrument to be generated in the Document Preview tab.

ENTITY TYPE:

  • Select the Corporation’s entity type.

  • The default type is “Private Issuer” which means that there are restrictions on the transfer of shares which will exempt the Corporation from the prospectus requirements of the Securities Act.

NAME OF CORPORATION:

  • Enter the Corporation’s name and the type of name.

  • If the name of the Corporation is a number name, you will be prompted to enter the “Legal Ending."

  • If the name of the Corporation is other than a number name, you will be prompted for the information related to the NUANS search required to file the Articles.


NUMBER OF DIRECTORS:

  • Determine if the Corporation will have a fixed number of directors or a minimum and maximum number of directors. The latter provides for more flexibility in the composition of the board.

  • If the Corporation has or will have a fixed Number of Directors, enter the number.

  • If the Corporation has or will have a minimum and maximum number, enter a number for each the minimum and the maximum.

RESTRICTIONS ON THE BUSINESS THE CORPORATION MAY CARRY ON:

  • Determine if the business of the Corporation is to be restricted.

  • To provide maximum flexibility as to the type of business the Corporation may carry on, select “None."

  • To include restrictions, click “Restricted” and enter the restrictions in the space provided.

RESTRICTIONS ON THE ISSUE, TRANSFER AND OWNERSHIP OF SHARES:

  • In order to qualify as a Private Issuer, the transfer of shares in the capital of the Corporation must be restricted.

  • Determine whether the Corporation will have transfer restrictions. If so, select whether the restriction requires director, shareholder of director or shareholder consent. To see the result of the different choices, look at the Charter Instrument in the Document Preview tab.

  • To include other restrictions, click “Other” and enter the restrictions in the space provided.

OTHER PROVISIONS:

  • Select any of the identified provisions or “None of the Above."

  • To include custom provisions, click “Other” and enter the other provisions in the space provided.

NOTES:

  • The user may enter notes and reminders about the Corporation here, including the date on which the Charter Instrument was delivered to the client.

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