Mod 4 Flashcards
What statute are private AB corporations subject to with regard to selling shares?
Business Corporations Act
What statute are public AB corporations subject to with regard to selling shares?
AB Securities Act
A legal assistant may prepare what documents for a private corporation?
-Director’s Resolution
-Share Subscription
-Share Certificate
-Shareholder Ledger
-Shareholder Share Transfer Register
What extra doc will need to be prepared when a shareholder purchases their shares from another shareholder?
-Share Certificate Cancellation
What is a Shareholder Agreement?
a contract between the shareholders of a corp.
What is the difference between a Shareholder Agreement and a Unanimous Shareholder Agreement?
A Shareholder Agreement may be between some of the shareholders whereas a Unanimous Shareholder Agreement is between all the shareholders
What doc would a shareholder sign to formally acknowledge the purchase of shares from a corp?
Share Subscription
What doc would a legal assistant prepare to summarize the transfer of shares between two shareholders?
Shareholder Share Transfer Register
What doc would a legal assistant draft that shows the approval of the directors of a corp to a share purchase by a new shareholder?
Director’s Resolution
What doc notifies AB Corporate Registry that there has been a change in shareholders of a corp?
Annual Return
When a share certificate is no longer valid, what is written across the face of it?
“Cancelled”
What is the purpose of a Shareholder Agreement
-manage risk
-outlines shareholders rights and responsibilities
-outlines how shareholder disputes are handled
