A minute book is a compilation of corporate records. When incorporating, minute books include many documents including the Articles of Incorporation, bylaws, initial resolutions setting out officers, forms of share certificates and more. Following preliminary corporate set up there are events that should be recorded in the minute books such as changes of the corporation’s directors and changes to share structure.
Although there is no legislation mandating a minute book per se, corporations must nonetheless organize and store corporate documents, and a minute book is a useful vehicle for doing so.
A properly kept minute book will facilitate proper functioning of the corporation, and it will be indispensable should you be audited by the Canada Revenue Agency. Corporate records are of course subject to Government review to ensure you are complying with the rules and regulations.