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Canada Business Corporations Act

Version of section 45 from 2011-11-29 to 2024-02-06:

Marginal note:Shareholder immunity

  •  (1) The shareholders of a corporation are not, as shareholders, liable for any liability, act or default of the corporation except under subsection 38(4), 118(4) or (5), 146(5) or 226(4) or (5).

  • Marginal note:Lien or hypothec on shares

    (2) Subject to subsection 49(8), the articles may provide that the corporation has a lien or hypothec on a share registered in the name of a shareholder or the shareholder’s personal representative for a debt of that shareholder to the corporation, including an amount unpaid in respect of a share issued by a body corporate on the date it was continued under this Act.

  • Marginal note:Enforcement of lien or hypothec

    (3) A corporation may enforce a lien or hypothec referred to in subsection (2) in accordance with its by-laws.

  • R.S., 1985, c. C-44, s. 45
  • 2001, c. 14, s. 27
  • 2011, c. 21, s. 26

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