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Every corporation must maintain specific documents, including articles, bylaws, director resolutions, shareholder resolutions, share certificates, share registers, and ledgers, all compiled in a binder known as the minute book. Legally mandated, the minute book is essential for outlining the legal relationship between shareholders. It is crucial when applying for bank loans, as banks typically request to review it. Additionally, potential buyers of the corporation will expect to see the minute book, and it will be examined during any audits conducted by the CRA. Keeping a well-organized minute book is therefore important for legal and operational purposes.