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Pro Rata

Latin: to divide proportionate to a certain rate or interest.

Latin: to divide or distribute proportionate to a certain rate or interest.

For example, if a for profit corporation with two shareholders, one with 25% and the other with 75% of the shares, received a gift of $10,000 and desired to split it "pro rata" between the shareholders, the shareholder with 25% of the shares would receive $2,500 and the 75% shareholder, $7,500.

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Unless otherwise noted, this article was written by Lloyd Duhaime, Barrister, Solicitor, Attorney and Lawyer (and Notary Public!). It is not intended to be legal advice and you would be foolhardy to rely on it in respect to any specific situation you or an acquaintance may be facing. In addition, the law changes rapidly and sometimes with little notice so from time to time, an article may not be up to date. Therefore, this is merely legal information designed to educate the reader. If you have a real situation, this information will serve as a good springboard to get legal advice from a lawyer.

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