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Types of non-profits
6 m( Z) G* c: F. V- w$ R0 D/ hThere are 2 types of non-profit organizations: private and public.
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You should get legal advice if you need help deciding which type of company is best for the needs of your group or if a society is a better legal structure.
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Private- `9 Z. x' H6 D$ K; ?; M
At least 2 people are needed to form a private non-profit organization. A private non-profit organization has the following restrictions:
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cannot have more than 50 shareholders or members
* ]0 b5 L2 T' V$ ]1 D1 T, d5 Ycannot sell shares or memberships to the public' J3 P6 Y% p0 |" q5 v: x7 L1 G
restricts or forbids share or membership transfers
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7 W `1 K$ K0 A( {At least 3 people are needed to form a public company. A public non-profit organization does not have the restrictions of a private organization. |
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