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Arvic's Articles of Incorporation
As one of Alberta must recognized and trusted firm of Paralegals we have created our own standard sets of Articles that we provide as part of every incorporation. Our Articles follow two basic format's.
- Arvic's Simple Articles
- Arvic's Complex Articles
Both of which are described in more detail below.
When an application for incorporation is filed the applicant must include a description of the types, rights, conditions, restrictions and privileges associated with each of the classes of shares issued by the corporation. There are some minimum requirements that a set of Articles must contain. However, There is no end to the number of types or classes of shares that a private corporation can issue.
The following is a typically set of features used as part of a set of articles;
The corporation is authorized to issue an unlimited number of Class "A" Common Voting shares and Class "B" Common Non-Voting shares with the following rights, privileges, conditions, and restrictions attached thereto:
- Right to vote
- Holders of Class "A" Common Voting shares shall have the right to vote at any meeting
of shareholders of the Corporation, each Class "A" Common Voting share conferring one
vote, except in the event that only holders of a specific class of shares are entitled to vote,
as prescribed by the Alberta Business Corporations Act.
- Participation
- Subject to the rights and privileges attached to other classes of shares, holders of Class "A" Common Voting shares shall have the right:
- to participate in the property, profits, and surplus assets of the Corporation and, for
that purpose, to receive any dividend declared by the Corporation; and
- to receive the remaining property of the Corporation on dissolution
- Restrictions
- No dividend or distribution of any kind whatsoever shall be declared or made in respect of the Class "A" Voting shares which will have the effect of reducing the net assets, including goodwill, of the Corporation to an amount insufficient to enable
repurchase of redemption by the Corporation of all of any Preferred shares issued and outstanding.
- Public Subscription
- Any invitation to the public to subscribe for securities of the Corporation is prohibited.
- Restrictions on Share Transfers
- No Share of the capital of the corporation shall be transferred without the sanction of a majority of the Directors of the Corporation.
Simple Articles
Consist of an unlimited number of Class "A" voting shares; an unlimited number of Class "B" non-voting shares; and an unlimited number of Class "C" non-voting preferred redeemable shares;
Please call our toll free number below for a more detailed description of these articles
Complex Articles
Consist of an unlimited number of Class "A" & Class "B" voting shares; an unlimited number of Class "C" & Class "D" non-voting shares; and an unlimited number of Class "E" series shares;
Please call our toll free number below for a more detailed description of these articles
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