In order to set up a corporate bank account, you will need to supply the bank with a copy of your articles of incorporation and any articles of amendment.
All authorized signing officers of the corporation must sign on to the account at the bank before they are permitted to sign cheques or access the corporate account.
The bank may also require certain corporate by-laws or other resolutions to be passed before opening the account
What You Need To Know To Complete Your Articles Of Incorporation
KEEP COPIES OF ALL
YOUR DOCUMENTS FOREVER
In most Canadian jurisdictions, business corporations are created by filing articles of incorporation with the appropriate government agency.
Incorporators will have to decide the following in order to complete the forms: Some of these questions may need the help of a lawyer.
Your answers to these questions depend on your own situation. You may need the help of a lawyer for specific legal and/or tax advice prior to completing the articles of incorporation.
Where will the registered office be located?
How many and what classes of shares will the company be authorized to issue?
Should there be restrictions on share transfers to ensure that the corporation remains "private?"
How many directors will be appointed? Will there be a set number of directors or a minimum and maximum number?
Should there be restrictions on the types of activities or type of business that the corporation may conduct?
Are there any other restrictions or clauses that should be included in the articles?
Once the articles of incorporation and supporting documents are completed, they must be signed in duplicate by at least one incorporator who is competent, at least 18 years of age and not bankrupt. Incorporators may, but do not have to be directors or shareholders of the company after it is incorporated.
Your Articles of Incorporation and supporting documents, including a NUANS report and filing fee must be filed with the appropriate government agency before the corporation is created.
Canada Trusts CanLaw Online since 1996
WHAT IS CANLAW? CanLaw is Canada's first, largest, free Nationwide Lawyer Referral Service for anyone, or any business, anywhere in the world, needing to find a lawyer, law firm, or legal or related services and assistance for any reason whatsoever, anywhere in Canada.