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–Implications of being a soliciting corporation
§Must have a minimum of 3 directors, at least 2 of whom are not officers or employees of the corporation or its affiliates
§Required to file annual financial statements with the Industry Canada
§Audit and public accountant rules more stringent (see later in presentation)
§On liquidation, the articles must provide for the distribution of any remaining property on dissolution to qualified donees (e.g. registered charities, governments in Canada, the United Nations etc.)
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