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Hold charitable property in trust
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New Brunswick stands fully covered: its own filings and guidance stand in the books beside the federal ones.
A society that holds property for charitable purposes holds it in trust, and answers for it.
Where a company’s letters patent carry the trust words its applicants asked for, the company holds all its property — and the profits and income arising from it — in trust for the objects and purposes it was incorporated for, and declares no dividends. Binds: New Brunswick companies without capital stock whose letters patent carry the trust clause (Companies Act, s. 18(1)).
The law’s own words
“In any application for the incorporation of a company for charitable, philanthropic, temperance, religious, social, political, literary, educational, athletic or other like purposes … the application may ask for the embodying in the letters patent, which in such case shall be therein inserted, that the company shall hold all property both real and personal, and the profits and income arising therefrom … in trust for the objects and purposes for which the company may be incorporated”
Companies Act (New Brunswick), s. 18(1) · Read it at New Brunswick · Verified 2026-11-11
“that the company shall hold all property both real and personal, and the profits and income arising therefrom, acquired by it by purchase, gift, bequest or otherwise in trust for the objects and purposes for which the company may be incorporated, and that no dividends shall be declared or paid on any capital stock of the company.”
Companies Act (New Brunswick), s. 18(1) · Read it at New Brunswick · Verified 2026-11-11