Lake Anne Club Inc. was incorporated in October 1932 as a Part 1 company under the Quebec Companies Act. At the time of formation, the Heward, Drury, Johnson, MacCallum (now Hunt) and Seale families owned property around the lake although the Seales decided to join the Company later in 1946.
Various lands purchased earlier by the four original principals were transferred to the new Company upon incorporation, and, in compensation, individual lots and shares were acquired from the Company. As required, bylaws were drawn up and approved at the first General Meeting of shareholders. Since then, of course, the Lake population has grown to 22 properties, represented by 35 shareholders, and the Company now owns 1,500 acres of common land all around the Lake.
However, the basic structure of the Bylaws has remained essentially the same, although some modifications have been introduced from time to time, such as increasing the number of Directors from the original 4 to the current 7-10.
Other changes of note, made in the 2004 - 2010 period, include a remake of the Model Deed (used for any purchaser of a new lot from the Company), the conversion to Part 1A, the modern form of company, financial year-end moved to April 30th to allow a summer AGM (AGM needs to be within 4 months of year-end), notification by email, various modifications to the Board of Directors – number now a range of 7-10, Directors do not need to be shareholders (to allow family members to be included), duties of Secretary-Treasurer split into two functions, make-up and duties of a nominating committee detailed.
The Board is currently reviewing a few other areas in the bylaws, in particular the Development Rules as well as the Model Deed and Model Personal Agreement, primarily to reflect changes to municipal bylaws and regulations.
Attached are our current bylaws reflecting the last changes approved by Shareholders at the August 2010 AGM, excluding the annexed Model Deed and Model Personal Agreement (available upon request). Some redrafting has been done for this version to make the document more readable and to clarify certain areas.
I invite you to familiarize yourselves with them. Please do not hesitate to contact us for more information, to seek clarification, or to give feedback.
Derek Johnson
Company Secretary
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