MAINTENANCE OF THE BUSINESS

Suppose that Canmore has strict environmental bylaws. You want to ensure that your new business is compliant with such bylaws. But you don't know what you need for this.

1.What does your business need to operate in Canmore? (1 mark)

2.What is a Corporate Minute Book? What does the law say about it? (2 marks

SHAREHOLDERS

You and two friends - A and B - become shareholders. You are the primary shareholder with 50% of the shares. A and B each have 25% of the shares. You have signing authority over contracts.

1.Suppose A and B want to sell their shares. Who can purchase their shares? (2 marks)

2.Suppose B wants to inspect the corporate records. Where would the records be kept? (1 mark)

3.If one buys shares in the corporation, how can this person prove it is a shareholder? (2 marks)

4.Who is responsible for declaring dividends? (2 marks)