It may very well be that your group has already been incorporated as a legal entity. Origins IGA will be ready to provide restructuring advice if required where we feel that the group as currently structured will be unable to achieve the objectives for which it was formed. Such a review would include:
a. Review Incorporation Documents
- Is the Investment Group incorporated as Limited Liability Company, partnership or Self help group? Advise group on advantages/disadvantages of each type of incorporation
- Location of incorporation. Based on long term goals advise on appropriate incorporation location
b. Review Memorandum and Articles
- Review Mem/Arts to ensure that all necessary provisions are incorporated. If such provisions not included advise on their inclusion and redrafting of Mem/Arts
- Review capital clauses
c. Review Shareholder Agreement
- Does one exist? If no, then we will help the Investment Group to formulate one.
- If shareholder agreement exists then review to ensure that all necessary provisions are incorporated.
d. Review Financial Statements
- Are contributions up to date and fully accounted for?
- Are accounts audited?
- Is there a monthly Treasurer's report?
- Are Member contributions valued annually and reported as a unit?
e. Review Shareholder Register (for Investment Groups incorporated as Limited Liability Companies)
- Does Shareholder Register exist?
- Has Register been updated?
f. Review Administration of IG documentation
- Are there minutes of meetings recorded and kept in a minute book?
- Is there proper filing of bank statements and stock broker statements?
- Are annual returns filed to company registrar?
- Are annual returns filed to KRA?
Once the formation or restructuring of the Investment Group is complete, the group should follow this with a strategic planning session to embark on laying the road map to success.
See Strategic Planning under the Products section.
