What is the ULC Statement on the Share Certificate?
An unlimited liability company must set out on the face of each share certificate issued by it the following statement: The shareholders of the company are jointly and severally liable to satisfy the debts and liabilities of the company to the extent provided by = 4 && typeof(BSPSPopupOnMouseOver) == ‘function’) BSPSPopupOnMouseOver(event);” class=”BSSCPopup” onclick=”BSSCPopup(‘section51.htm’);return false;”>section 51.3 of the Business Corporations Act. The requirement for each share certificate issued by a ULC to contain a statutory description of shareholder liability is intended to bring to the attention of shareholders (and potential purchasers) the nature and extent of their liability.
