7.Members
Both CNCA and
ONCA generally provide for similar principles
with regard to members but different detailed rules
A corporation must have
members
Can have
One class of
members in which case all are voting
Two or more classes as long as articles give right to vote to at least one class
Where more than
one class, the members of each class have certain
built in protections
All classes of
members, even non-voting classes of members, are
entitled to vote separately as a class on certain amendments to articles and by-laws dealing with rights and classes of membership
Under the ONCA,
Bill 85 delays the limited voting rights for
non-voting members until at least three years after proclamation