The Act or legislation that applies to the corporation determines a shareholder’s entitlement.
For example, if the Ontario Business Corporations Act applies to the corporation and the corporation has only one class of shares, then as a shareholder you are entitled to:
- vote at all shareholders’ meetings;
- receive the value of your shares, including the rights to participate in distribution of the assets of the corporation as set out in the articles;
- receive a copy of the corporation’s financial statements, the auditor’s report (if applicable), and any further information on the corporation’s financial position required by the articles, by-laws or any unanimous shareholder agreement, and
- not be oppressed.