You may ask yourself what is a minute book and why do I need one, TLE is here to explain the importance of keeping an up-to-date minute book.
Simply put, a corporation’s minute book serves as the official record of the corporation’s activities and transactions. All corporations in Ontario and Canada are required by law to prepare and maintain an up to date minute book pursuant to the Ontario Business Corporations Act (OBCA) or Canada Business Corporation Act (CBCA). For Ontario, the OCBA requires the following records to be kept at the registered office or other location directed by the corporations directors
Articles of Incorporation and the By-Laws and a copy of any unanimous shareholder agreement known to the directors
Minutes of Meetings and Resolutions of Shareholders
Register of Directors
Securities Register
Register of Transfers
Notices