Directors Resolutions Redeeming Shares | Canada
Before a Canadian corporation can redeem any of its issued shares, the action must be authorized by a Resolution of the Directors.
- Use this easy downloadable template to prepare the Resolution form.
- By passing the Resolution, the Board of Directors authorizes the redemption of shares from a shareholder.
- The shares will be redeemed provided that the corporation determines that redeeming the shares would not render the corporation unable to meet its liabilities.
- A resolution for redemption of shares also requires the consent of the shareholders.
- This corporate template can be used by federal corporations and by any provincial corporation which was formed under a Business Corporations Act. A French language translation is required for use in Quebec.
Last Updated: 12-September-2018