RECO / TRESA · Governance
President, as sole officer, must be the controlling shareholder
What the rule requires
The controlling shareholder must be the president and the only officer. Naming a spouse as secretary breaks the condition.
Authority: O. Reg. 536/20, s. 2 ¶4 (president as sole officer)
What goes wrong
The articles do not address this. PREC status would rest on conduct alone, with nothing in the constitution to prevent the breach.
What good looks like
The articles contain a provision to this effect.
Check your own articles, free
The PREC Articles Health Check reads your articles of incorporation in your own browser and rates them Red, Yellow or Green against this criterion and 28 others. Your document is never uploaded to us.
An automated drafting scan, not legal or tax advice. It reads how the articles are drafted; it does not advise on your circumstances, and Capital Toolkit does not file articles with the Province.
Run the free Health Check