20A. Minimum of one member

Question 1

20A. Minimum of one member

Answer 1

General overview
[20A.01] This provision allows for a sole proprietorship to incorporate a company with one member to enjoy the incidents of incorporation.

Question 2

Minimum of one member

Answer 2

[20A.02] This section provides that a company shall have at least one member. It allows the incorporation of a sole member company that can enjoy the incidents of incorporation, i.e. separate legal personality, limited liability of the sole member, holding property in the company’s name instead of the member, and perpetual succession