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Can an incorporated trustee do business in Nigeria?

It may be dissolved by the Federal High Court upon Petition by the Governing Council, or one or more members of the body of trustee; or not less than 50% of total members of the association; or the CAC. The organisation cannot engage in business activities.

What is an incorporated trustee?

An incorporated trustee (also referred to as a "corporate trustee") is a corporation, usually a trust company, which is named as the trustee of an account such as a private trust or another fiduciary account.

What steps do they need to take to change the number of board members on the board?

If you want to increase the number of board members within the limit set by the bylaws, simply raise the prospect of filling vacant seats at a regular meeting of the board, recruit candidates, vet their credentials, vote on their candidacy and seat the one who gets the most votes of the existing directors.

Can an incorporated trustee do business?

A company limited by guarantee is allowed to venture into business or profit making agenda but cannot share the profit among members; but Incorporated Trustees are not allowed to venture into profit making business.

How do I incorporate a trustee in Nigeria?

Registration steps for registration of Incorporated Trustee Check for availability of proposed Incorporated Trustee name (click here). ... Complete pre-registration form and upload trelevant registration documents\u2013 CAC-IT01 (Online using Company Registration Portal) Pay filing fee Check the Fees for our Services here.

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