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What does OBCA stand for?

OBCA stands for Ontario Business Corporation Act


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Ontario Corporations typically have limited liability meaning that the shareholders are not liable personally for the debts of the business. In addition, Ontario Corporations live on even after the original incorporators pass away or move on to other business ventures. Companies looking to incorporate in Ontario must comply with Ontario's Business Corporations.
In Canada, corporations can exist at either a provincial or a federal level. Provincially incorporated corporations are governed in Ontario by the Business Corporations Act (“OBCA"). Federally incorporated corporations are governed in Canada by the Canada Business Corporations Act (“CBCA"). The difference between the two is, not surprisingly, the geographical area within which a corporation can act.