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Category: Business Law
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I am a 25% shareholder in a Texas S-Corp with 3 other partners

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I am a 25% shareholder in a Texas S-Corp with 3 other partners (all 25%). 1 has not contributed at all and seems to have no interest in the business, but refuses to sell. Do we have any options to force a sale of shares?
Submitted: 4 years ago.
Category: Business Law
Expert:  Law Pro replied 4 years ago.

No, not really. That he owns shares is enough that he can force you to purchase them or refuse to sell the shares.

 

What you can do is - just not pay dividends on the shares - but only pay for work performed instead. If he doesn't get any income - then he might be more inclined on selling you the shares of stock.

 

Since there is 75% between you and the other owners - just agree between you that your not going to be paying any dividends. Eventually he'll start thinking about selling out to you three.

 

 

 

 

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Law Pro, Attorney
Category: Business Law
Satisfied Customers: 23751
Experience: 20 years experience in business law - sole proprietor, partnership, and corporations
Law Pro and 6 other Business Law Specialists are ready to help you

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