Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
359 Liability and Indemnification Liability for incorporation expenses
incorporation or organization expenses from the capital of the
company or from interest on the capital without complying with
section 140 are jointly and severally liable to the shareholders or
incorporators of the company for the amount of those expenses.
(2) A director of a provincial company who has satisfied a claim
under this section is entitled to a contribution from the other
directors of the company who are liable for the claim.
1999 cI-5.1 s359