Shareholders of a corporation have limited liability, which means thaat they risk only the money that they have paid for their shares. The Ontario Business Corporation Act contains several provisions to ensure that shareholders may not extract money from the corporation to the detriment of creditors.
Describe ONE of these provisions in detail (section numbers not important), including the sanctions imposed for failing to abide by the rules.
Any help would greatly be appreciated. Thank you.
Describe ONE of these provisions in detail (section numbers not important), including the sanctions imposed for failing to abide by the rules.
Any help would greatly be appreciated. Thank you.