LAW 603 Lecture Notes - Fiduciary, Oppression Remedy, Transfer Tax
11 Feb 2013
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Chapter 22 legal rules for corporate governance. Without sufficient accountability, shareholders will not invest. Set out by canada business corporations act (cbca) Shareholders the residual claimants to the assets of the corporation and elect the directors: appoint the auditor, vote on proposals made, do not manage the business. Directors responsible for managing or supervising the management of the business of the corporation and its internal affairs. Officers appointed by the directors of a corporation and usually exercise management powers delegated to them by the directors. Directors obligated to call annual meetings at least every 15 months. Annual meeting shareholders elect directors, appoint an auditor, and review the annual financial statements. Business that is done in meetings must be recorded in written resolutions and signed by all shareholders. Public corporations corporation that has distributed its shares to the public. Shareholders can participate in a shareholder"s meeting without attending by appointing a proxy.
