Ownership & Name Changes
Change of ownership
Change of ownership for an existing CNS endorsed agent and authorized intermediary must be formally notified to CNS as per Section 7.1 of the Cargo Membership Handbook (pdf).
Change of ownership involving more than 50% of the total issued voting stock is to be notified at least 30 days prior to the transaction by means of the CNS Notice of Change (pdf).
The following additional documentation is to be furnished after the event takes place:
- Schedule A (pdf)
- Compilation report prepared by a CPA or corporate tax return if closing date is no more than six months of submission of the change of ownership
- Bank statements for the last three months of the financials
- Certificate of merger, if applicable
- Name change can be processed along with the change of ownership at no additional fee (refer to the change of name procedure)
- $800 fee
Please create a case in the CNS customer portal to submit the above documentation.
Note: For qualifying events and additional information about the preparation of the financials, please refer to Section 8 of the Cargo Membership Handbook (pdf). Changes of ownership involving less than 50% of the total issued voting stock only require to provide notice in writing to CNS by means of Schedule A (pdf).
Change of name
Change of name of an existing CNS endorsed agent and authorized intermediary must be notified to CNS as per Section 7.3 of the Cargo Membership Handbook (pdf).
The following documentation is to be furnished:
- Amended articles of incorporation
- Copy of a bank statement reflecting the new name of the company or a letter from your bank acknowledging the change of corporate name
- $250 fee
In the event that a trade name will be added, the following documentation is to be submitted:
- Notice in writing
- $150 fee
Please submit all documents to the CNS customer portal.