Are annual meetings being held by shareholders?

In downtown Detroit, Dan Gilbert (Majority shareholder of Quicken Loans and the Cleveland Cavaliers) bought a large number of buildings, renovated them, and induced the owners of small companies in which he invested to locate in those buildings.

I live in northern Canada (so I understand there are legal differences from our neighbours to the south) and would like to start a real estate investing corporation with a few coworkers.We would be a group of about 5-7 individuals investing in Canada with options to spread into the States if things go well.What I would like advice on is what kind of verbiage to include in our contractual agreement (bylaws, unanimous shareholder agreement, etc.).

LLCs that are thinly capitalized are more likely to be viewed as “shells,” thereby losing their capacity to shield the members from liability.or fails to maintain a separate identity from its owners ( using the business bank account for business purchases, maintaining separate books)Conversion of entities Assets for Personal Benefit:Another factor that poses a risk of piercing the corporate veil is the draining of entities assets (such as payments of large salaries to shareholder-employees) that leaves the entity with inadequate resources to pay its debts.Do not commingle personal and LLC assets.Maintain a separate LLC bank account.Execute an operating agreement.Follow the provisions of an operating agreement.Have LLC member meetings according to the operating agreement.Title property in the name of the LLC.Maintain insurance on LLC property in the LLC's name.Sign all LLC documents in the LLC's name, not the members' names.b.

Or I get to wait for someone to accuse me of harming the investor by not maximizing recovery, or harming the shareholders....and after all that, you really think a bank is just gonna do some side deal with some yahoo that walked in off the street because we had a beer together?

I control the Regulation D filings, which investors I interface with, what rights are vested in shareholders interests, etc.

My opinion:A C corp is definitely more appropriate for an enterprise level company with multiple shareholders, executives, a board of directors, etc...

On the one side, they should know exactly what the board is looking for to qualify shareholders.

I ended up buying the LLC Master Machine.As an introduction, I am an attorney myself; my practice area focuses on business entity formations and governing documents, i.e. operating agreements for LLCs and bylaws, shareholder agreements for corporations, etc.I can honestly say that the level of detail with regard to the tax citations and reasoning to include such citations is well worth the money. 

To what extent will the parties be free to carry on other businesses while the joint venture subsists if one party pulls outIs it intended that spouses/partners should also be shareholders, to allow for tax advantages from a broader split of dividends?