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Document Id : 1042
File Type : Microsoft Word
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Ontario Corporate Resolutions to Convert Debt to Equity
Authorize a conversion of debt to equity with these corporate resolutions for an Ontario corporation.
- The directors and shareholders of the corporation resolve to cancel an existing shareholder loan.
- They then resolve to add the outstanding principal balance of the loan to the shareholder's stated capital account.
- The resolutions are made pursuant to the Ontario Business Corporations Act.
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