SAVAGEST INCORPORATED

 

 

         The director is the individual known as Mawgcen Neskynilh. Mr. M. Neskynilh oversees the running of all business of his corporations Savagest Incorporated, Savagest Apparel Incorporated, Savagest Records Incorporated and makes all the important decisions.­

 

 

 

         Savagest Incorporated, Savagest Apparel Incorporated, Savagest Records Incorporated  all have one (1) director (Mr. M. Neskynilh.) There is no fixed maximum as to the number of directors that Savagest Incorporated, Savagest Apparel Incorporated, Savagest Records Incorporated all must have at any given time. Nevertheless, the number of directors that Savagest Incorporated, Savagest Apparel Incorporated, Savagest Records Incorporated all have are indicated in their Articles of Incorporation and specifying the exact number (1) director.

 

 

 

         As a general rule, only physical persons (i.e., individuals) are eligible to be directors of my corporation/s. Not all physical persons, though, can become directors. In fact, there are physical persons who are generally prohibited from becoming directors, namely:

  • persons under 18 years of age;

  • persons over 18 years of age who are under tutorship or guardianship or are otherwise incapacitated; and

  • in certain jurisdictions, undischarged bankrupts.

If a person elected as a director fails to meet the necessary eligibility requirements described above at any time during his/her mandate, his/her election may be considered null and he/she would no longer be deemed a director. On the other hand, past acts of this director cannot generally be annulled on the sole ground that he/she was disqualified as a director.

Unless any of my corporation's Articles of Incorporation provide otherwise, a director is not required to be a shareholder of my corporation/s. In addition, certain jurisdictions require a director to be a Canadian resident - see below.

 

Jurisdiction                 Board of Directors
                                   Canadian Residency Requirement
Federal                       At least 25% of the directors must be Canadian residents
Alberta                       At least half of directors must be Canadian residents
British Columbia         None
Manitoba                    Majority of directors must be Canadian residents
New Brunswick           None
Newfoundland            Majority of directors must be Canadian residents
Nova Scotia                 None
Ontario                       Majority of directors must be Canadian residents.
                                   If there are only 2 directors, then only 1 must be Canadian resident
Prince Edward Island   None
Quebec                       None
Saskatchewan             Majority of directors must be Canadian residents and at least 1 director

                                   must be resident of Saskatchewan

 

 

 

 

         I, Mawgcen Neskynilh, am my corporation's first director and named on the initial government filing that I sent to the appropriate Canadian government body along with all of my corporation's Articles of Incorporation. I officially become the director of my corporation/s as of September 4, 2015 07:01 PM Pacific Time as mentioned on the corporation's Articles of Incorporation and shall remain in office for the remainder of time immemorial. Subsequent directors, also referred to as the "permanent directors", are elected by my shareholders. Unless there is a provision to the contrary in my corporation's Articles of Incorporation or By-Laws, shareholders typically elect the directors on an annual basis. At this time, the shareholders either re-elect the present directors for another term or elect new directors. If they remain qualified, directors can usually be re-elected for an indefinite period of time. The election of directors can occur at any given time during the year, but in practice, the election almost always takes place during the annual shareholders' meeting. The election usually takes place by way of a ballot, unless there is a provision to the contrary in the corporation's Articles of Incorporation or By-Laws. In most cases, the corporation's By-Laws state that a ballot is only required if a shareholder present at the meeting to elect the directors makes a special request.

 

 

 

 

         In general, any vacancy in the board of directors is filled for the remainder of the term by the other directors from among qualified persons. A vacancy resulting from the removal of a director may generally be filled by the shareholders at the meeting at which the removal took place, otherwise, it can be done by the board of directors. If an opening is created following an increase in the number of directors, this opening is usually only filled by the shareholders at a special general meeting. Since the position was never occupied in the past, it is not deemed to be vacant and, therefore, the other directors are not entitled to fill it. In theory, an incomplete board of directors may have no authority to act. Consequently, it is often recommended that any vacancies in the composition of the board of directors be filled as soon as possible.

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2. How Many Directors must My corporations have?

3. Who is eligible to become a Director?

4. How do people become Directors?

5. How are vacancies on the Board of  Directors Filled?

1. Who, or what is the Director?