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Legacy Member Q&A
Why is the Club no longer using the term "Shareholder"?
The Ontario Not-for-Profit Corporations Act (ONCA) does not permit not-for-profit corporations to have shareholders. As part of Osler's transition to ONCA, the Club was required to eliminate its share capital structure and replace it with a membership-based structure. This means we will be using the term “Voting Member” in place of “Shareholder” moving forward.
What happened to my Class A shares?
As part of the ONCA continuance, all shares of the Club were cancelled. This was a legal requirement of moving from a share-capital corporation to a non-share-capital not-for-profit corporation. The cancellation of shares does not result in any payment or distribution, as the Club continues to operate as a not-for-profit organization for the benefit of its members.
What is a Legacy Member?
A Legacy Member is a new membership category created under the ONCA by-laws. The category was established to recognize former Class A shareholders who wish to maintain a formal connection to the Club.
I was a Class A shareholder. What am I now?
Former Class A shareholders have transitioned to the Legacy Member category.
What is the difference between a Voting Member and a Legacy Member?
Voting Members receive notice of member meetings, may attend member meetings, and have one vote on matters brought before the membership. Legacy Members do not receive notice of member meetings and do not have voting rights.
Can Legacy Members ski or use Club facilities?
No. Except where specifically permitted by Board policy, Legacy Members are not entitled to use Club facilities, participate in Club programs, or access Club amenities. Those privileges remain with Voting Members and their eligible badge holders.
Can a Legacy Member become a Voting Member?
Yes. Legacy Members may apply for Voting Membership in accordance with the Club's membership policies and admission procedures. Under the new by-laws; an individual who is not a Voting Member may apply to become a Legacy Member within five years of the Club’s ONCA continuance date.
Will Legacy Members pay annual dues?
Legacy Members may be charged an annual fee established by the Board. Under the by-laws, this fee cannot exceed $20 per year.
Why didn't the Club simply keep shareholders and voting rights as they existed before?
ONCA required the Club to move away from a shareholder structure. To comply with provincial law, Osler had to adopt a membership structure consistent with ONCA. The new Voting Member and Legacy Member categories were created to reflect the Club's historic membership relationships while meeting current legal requirements.
Does becoming a Legacy Member affect ownership of a cabin?
No. Cabin ownership and rights under licences to occupy or licences to construct continue to be governed by the applicable agreements and Club policies. The ONCA transition primarily changes the Club's corporate structure and membership categories.
Does the transition change the Club's mission or operations?
No. The Club remains a not-for-profit organization operated for the benefit of its members. The Board of Directors continues to govern the Club, and the Club's purpose and operations remain substantially unchanged.
Who is eligible to apply to become a Legacy Member?
Individuals who were registered holders of Class A shares on April 30, 2026 may apply to become Legacy Members.
Do I automatically become a Legacy Member?
No. Former Class A shareholders must submit an application and have that application approved by the Board of Directors.
Application Form
Is there a deadline to apply?
Yes. Applications must be received before May 1, 2031, which is five years following the Club's continuance under ONCA.
Can a former Class A shareholder who is already a Voting Member also become a Legacy Member?
No. An individual cannot be both a Voting Member and a Legacy Member at the same time.
How many Legacy Memberships can a person hold?
Each eligible former Class A shareholder may hold only one Legacy Membership, and no individual may hold more than one Legacy Membership.
What rights does a Legacy Member have?
Legacy Members have only those rights specifically granted under the Articles and By-laws. They do not have voting rights, meeting rights, skiing privileges, access to Club facilities, or participation rights in Club programs unless specifically authorized by a future policy.
Why would I want to become a Legacy Member if I cannot vote or use the Club?
Legacy Membership preserves a formal relationship with the Club and may provide certain rights that exist under the Club's Articles, including rights that could arise if the Club were ever dissolved.
What happens if a former Class A shareholder has passed away?
If the former Class A shareholder is deceased, an heir may apply for a Legacy Membership with the consent and supporting documentation of the estate's executor or administrator.
Can a Legacy Membership be transferred to someone else?
No. A Legacy Membership is personal to the eligible individual and ceases when the Legacy Member dies or becomes a Voting Member.
What happens to my Legacy Membership if I later become a Voting Member?
Your Legacy Membership automatically ends if you become a Voting Member.
Will Legacy Members receive notices of Annual General Meetings?
No. Legacy Members are not entitled to receive notice of, attend, or vote at members' meetings.
Why was a Legacy Member category created?
The Legacy Member category was created as part of the Club's transition from a share-capital corporation to an ONCA-compliant not-for-profit corporation. It provides a way to recognize former Class A shareholders after the cancellation of all Club shares.
What rights did a Class A shareholder have before ONCA and what rights do Legacy Members have now?
Before ONCA:
Class A shareholders were shareholders of the corporation but generally did not have membership privileges at the Club. Under the previous structure, Class A shares were often held by former members, former cabin owners, or individuals who no longer held a Class B share.
After ONCA:
Class A shares no longer exist. Former Class A shareholders may apply to become Legacy Members, a non-voting membership category with limited rights under the Club's Articles and By-laws.