Corporate Not-For-Profit Law
Canada Corporations Act, Part II
The Canada Corporations Act, Part II, (sections 153 to 157.1(3)) allows the incorporation of non-profit corporations at the federal level. Under the Act, a corporation must not issue shares and its purposes must fit under, or have goals similar to, one of the following categories: national, patriotic, religious, philanthropic, charitable, scientific, artistic, social, professional or sporting. To ensure that corporations created under this Act are non-profit, corporations may not provide financial benefits to their members.
Primer for Directors of Not-For-Profit Corporations
For the Canadian voluntary sector, director’s liability is one of the most quoted and perhaps least understood issue. In response to this growing concern, Industry Canada has prepared a handbook for directors and officers of not-for-profit corporations.
This user-friendly document provides valuable information in a convenient format to inform these persons on their duties, rights and liabilities.
The publication was prepared in collaboration with the Canadian Center for Philanthropy, the Canadian Bar Association and the Canadian Society of Association Executives.
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