How is ownership of a private Canadian corporation tracked?
Let's say you own a privately held corporation. Then you sell some shares to your friend who sells some of those shares to his friend, etc. How can you keep track of who owns shares and how many shares they own?
The Secretary of the corporation keeps track. When you sold shares to a friend, by endorsing them over to him, he was to contact the Secretary in order to receive stock certificates in his name.
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