www.carters.ca
www.charitylaw.ca
•For CNCA (and
possibly ONCA after delayed proclamation
of rights) non-voting members will be given
voting rights in limited circumstances, e.g.,
–Extraordinary
sale
–Amalgamation
–Continuance to another
jurisdiction
–Change
to any rights or conditions attached to those non-voting members or a
change in the rights of other classes of members relative to the rights
of the non-voting members
•Thus a class of
members could reject a change - effectively resulting in a class veto (limited opt-out available)
•Corporations
wanting maximum flexibility will generally
opt to have only one class of members
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