Acts and Regulations

B-9.1 - Business Corporations Act

Section 44
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Liability of shareholders
44(1)The shareholders of a corporation are not, as shareholders, liable for any liability, act or default of the corporation except under section 99.
44(2)The articles, by-laws or unanimous shareholder agreement may provide that the corporation has a lien on a share registered in the name of a shareholder or in the name of 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.
44(3)A corporation may enforce a lien referred to in subsection (2) in accordance with its articles, by-laws or a unanimous shareholder agreement.
2008, c.S-5.8, s.106; 2023, c.2, s.32; 2023, c.2, s.155
Liability of shareholders
44(1)The shareholders of a corporation are not, as shareholders, liable for any liability, act or default of the corporation except under section 99.
44(2)The articles or by-laws may provide that the corporation has a lien on a share registered in the name of a shareholder or his legal 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.
44(3)A corporation may enforce a lien referred to in subsection (2) in accordance with its by-laws.
2008, c.S-5.8, s.106
Liability of shareholders
44(1)The shareholders of a corporation are not, as shareholders, liable for any liability, act or default of the corporation except under section 99.
44(2)The articles or by-laws may provide that the corporation has a lien on a share registered in the name of a shareholder or his legal 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.
44(3)A corporation may enforce a lien referred to in subsection (2) in accordance with its by-laws.
2008, c.S-5.8, s.106
Liability of shareholders
44(1)The shareholders of a corporation are not, as shareholders, liable for any liability, act or default of the corporation except under section 99.
44(2)Subject to subsection 47(8), the articles or by-laws may provide that the corporation has a lien on a share registered in the name of a shareholder or his legal 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.
44(3)A corporation may enforce a lien referred to in subsection (2) in accordance with its by-laws.