4.1 Organization and Start Up
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4.1 Organization and Start Up

Once the corporation has received its Letters Patent, a number of essential steps are required to be initiated so that the directors may properly administer the affairs of the corporation.  Among these steps are:

• establishing directors’ quorum
• adoption of by-laws
• banking and financial arrangements
• appointment of auditors
• appointment of officers

It is advisable to retain the services of a lawyer who specializes in corporation law to ensure the corporation is properly organized and the directors understand their responsibilities.  By having the corporation properly organized, you should eliminate a number of potentially serious problems in the future.

You should refer to the:

• Corporations Act
• Corporations Information Act

The above Acts are available on the ServiceOntario e-laws website at www.e-laws.gov.on.ca or can be purchased through the ServiceOntario Publications website at www.publications.serviceontario.ca/ecom. 

In addition, detailed procedural information and precedents may be found in the:

• Ontario Corporation Manual;
• Ontario Corporations Law Guide; and
• Canadian Corporate Secretary’s Guide.

These are private publications and are usually available in the reference department of most public libraries.

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