If authorized by by-law which is duly made by the directors and confirmed by ordinary resolution of the shareholders, the directors of the corporation may from time to time:

1. 1.  Borrow money upon the credit of the corporation,
2. 2. Issue, reissue, sell or pledge debt obligations of the corporation; and
3. 3. Mortgage, hypothecate, pledge or otherwise create a security interest in all or any property of the     corporation, owned or subsequently acquired to secure any debt obligation of the corporation.

   Any such by-law may provide for the delegation of such powers by the directors to such officers or directors of the corporation to such extent and in such manner as may be set out in the by-law.

   Nothing herein limits or restricts the borrowing of money by the corporation on bills of exchange or promissory notes made, drawn, accepted or endorsed by or on behalf of the corporation.

It is not a requirement to place restrictions on share transfers, but it might be desirable to have transfers approved by the directors and/or shareholders to ensure that any new members are acceptable to the existing members and or directors.

You are able to make selections below, choosing “None” if you do not want any restrictions. If it is intended to restrict share transfers, you are able to select the pre-defined text that is commonly used to require approval of share transfers or insert your own custom restrictions text:

• None

• Pre-defined Provisions

• Choose one of the following:*
  The right to transfer shares of the Corporation shall be restricted in that no shareholder shall be entitled to      transfer any share or shares of the Corporation without the approval of:

• The directors of the Corporation expressed by resolution passed by the votes cast by a majority of the directors of the Corporation at a meeting of the board of directors or signed by all of the directors of the Corporation, OR

• The shareholders of the Corporation expressed by resolution passed by the votes cast by a majority of the shareholders who voted in respect of the resolution or signed by all shareholders entitled to vote on that resolution.

• Custom Text

It is not a requirement to place restrictions on share transfers, but it might be desirable to have transfers approved by the directors and/or shareholders to ensure that any new members are acceptable to the existing members and or directors.

You are able to make selections below, choosing “None” if you do not want any restrictions. If it is intended to restrict share transfers, you are able to select the pre-defined text that is commonly used to require approval of share transfers or insert your own custom restrictions text:

• None

• Pre-defined Provisions

• Choose one of the following:*
  The right to transfer shares of the Corporation shall be restricted in that no shareholder shall be entitled to      transfer any share or shares of the Corporation without the approval of:

• The directors of the Corporation expressed by resolution passed by the votes cast by a majority of the directors of the Corporation at a meeting of the board of directors or signed by all of the directors of the Corporation, OR

• The shareholders of the Corporation expressed by resolution passed by the votes cast by a majority of the shareholders who voted in respect of the resolution or signed by all shareholders entitled to vote on that resolution.

• Custom Text