Capacity of a corporation
2023, c.2, s.155
13(1)A corporation has the capacity and, subject to this Act, the rights, powers and privileges of a natural person.
13(2)A corporation has the capacity to carry on its business, conduct its affairs and exercise its powers outside New Brunswick.
13(3)No corporation shall have the capacity
(a)
Repealed: 1983, c.15, s.5
(a.1)
to accept from the public deposits within the meaning of the
Canada Deposit Insurance Corporation Act, chapter C-3 of the Revised Statutes of Canada, 1970;
(a.2)
to execute the office of executor, administrator, guardian of a minor’s estate or representative under the
Supported Decision-Making and Representation Act;
(a.3)
to provide services of a fiduciary nature commonly provided by a trust company;
(b)
to carry on the business of a loan company or trust company as defined in the
Loan and Trust Companies Act or of an insurance company;
(c)
to carry on any business or activity if incorporation for the purposes thereof is provided for in any other Act; or
(d)
to practice a profession except as expressly permitted by an Act governing that profession.
13(4)Paragraphs (3)(a.2) and (a.3) do not apply so as to restrict
(a)
a professional corporation as defined in the
Law Society Act, 1996, in relation to the practice of law or the provision of services directly associated with the practice of law,
(b)
a corporation that is not offering its services to the public
(i)
from acting as a trustee of a trust, and
(ii)
from acting as an executor of a deceased person’s estate.
1983, c.15, s.5; 1986, c.18, s.2; 1987, c.L-11.2, s.279; 2000, c.9, s.4; 2022, c.60, s.67; 2023, c.2, s.9; 2023, c.2, s.155