Please note that I am definitely NOT a legal expert in this area; I’m a professional accountant but I present this information so as to put the Corporate Minute Book on your radar and to facilitate a conversation with your lawyer.
As a small business owner, YOU should also be aware of what you ask your accountant or bookkeeper to do with regards the Minute Book and what you should defer to your lawyer.
What is a Corporate Minute Book?
A corporate minute book is a binder a Canadian Controlled Private Corporation (CCPC) must legally maintain. It should be created when the corporation starts and contain documents about the creation of the company as well as records about the history of running the corporation.
You may choose to hire a lawyer to keep this binder at their premises and update/maintain it on a regular basis for a fee of course.
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