LGST 110 Lecture Notes - Lecture 8: Casual Vacancy, Profit Motive, Post-Office Box
1 Feb 2015
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Rules are contained in business corporation act and notice of articles. Directors: every corporation must have a board of directors, number of directors private companies at least one public companies at least three. Residency: no longer need to be resident in bc (under the old b. c. Company act you used to need at least 1 director resident in bc and a majority resident in canada) Don"t have to live in bc anymore: qualifications. 18 or over not incompetent not undischarged bankrupt. Can never apply for credit in any bank for 7 years and after 7 years, then bankruptcy will be removed from your name. Be in the middle of being bankrupt not convicted of certain offences. Anything crime involving money: statute based code of minimum standards of managerial behavior, there are two statutory duties that a director is subject to in performing the functions of a director: i.
