A Minute Book stores all the important corporate documents, such as the articles of incorporation, minutes of shareholders and directors meetings, share certificates, by-laws, and other legal documents.
As per the Canada Business Corporations Act a corporation shall prepare and maintain, at its registered office or at any other place in Canada designated by the directors, records containing:
1. The articles and the by-laws, and all amendments thereto, and a copy of any unanimous
2. Minutes of meetings and resolutions of shareholders;
3. Copies of all notices required by section 106 or 113;
4. A securities register that complies with section 50.
Apart from being compliant with the regulations of the Canada Business Corporations Act, a Minute Book is useful:
1. When selling a business
2. In resolving disputes among shareholders
3. To keep your corporate records organized