LAWS 3206 Study Guide - Midterm Guide: Mortgage Underwriting, Beneficial Ownership, Activist Shareholder
Document Summary
If you want to be a bank in canada you have to be incorporated under the bank act. Much like other corporations they are restricted to business of banking. Board of directors and indemnities, duties, conflicts of interest. Shareholder rights and banking (verdun & capuccitti case) Have the same structural features of any corporation but heavily regulated because of their importance to the economy. (page 84) (cid:862) i(cid:374)(cid:272)e 1997 (cid:271)a(cid:374)ks ha(cid:448)e (cid:271)ee(cid:374) (cid:396)e(cid:395)ui(cid:396)ed to (cid:271)e i(cid:374)(cid:272)o(cid:396)po(cid:396)ated that is the de(cid:272)isio(cid:374) (cid:373)ade (cid:271)(cid:455) the (cid:373)i(cid:374)iste(cid:396) of fi(cid:374)a(cid:374)(cid:272)e. (cid:863) Delegation to the ceo and senior management. A minimum of 7 directors on the board for the bank. Directors are elected by shareholders at every general meeting. Corporate bylaw (rules and regulations of how the corporation runs itself) Directors: the bank act permits the director to carry out their duties as for the board. Any corporation has the key decisions made by the board at meetings of the board of directors.
