Minute Book
A corporate minute book is a minute book in which the corporation keeps its registers and other documents require by law. Minute books are sometimes referred to as company book in Quebec, or by as a transliteration of its French name, minutes book.
After the incorporation of a business as a corporation, we must proceed with the organization of the corporation, and it’s in the corporate minute book that we will keep all the relevant documents. You can buy a minute book here.
Additional Information about Minute Books
What do we keep in a minute book?
The minute book holds the records of the corporation, including amongst others the articles and by-laws, the different resolutions of the directors and shareholders, the minutes of meetings, a securities register, a register of transfers of shares. This list may not be exhaustive, but in summary, the corporate minute book holds everything that pertains to the organisation and the corporate governance of the corporation.
Why are minute books required?
1. Canadian laws create a legal obligation to keep records. Indeed, a federal corporation must respect section 20 and 50, amongst others, of the Canada Business Corporations Act which requires that such records are kept. A company incorporated under Quebec law (Part 1A of the Companies Act) must keep a book or books which records most of the information we listed above as per section 197 of the law.
2. When it comes time to open the bank account of your corporation, banks and financial institutions will most like ask you for the minute book of the corporation. An up to date minutes books is nowadays a requirement for most banking institutions.
3. Keeping a corporate minute book is good practice to keep your corporation organized and in good order and is really one of the foundation of running a good business.
Where to buy a minute book?
You can buy your minute book on WebLegal.ca. If you plan on incorporating your business through our incorporation online service, you will be able to buy the minute book through its form.
If you wish to buy a minute book for your existing corporation, you can visit our corporate minute books order page.
