How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Loren Your Own Question
Loren, Attorney
Category: Business Law
Satisfied Customers: 29776
Experience:  30 years experience representing clients .
Type Your Business Law Question Here...
Loren is online now
A new question is answered every 9 seconds

How do I transfer ownership of company stock due to retire

This answer was rated:

How do I transfer ownership of company stock due to retirement.
If share certificates are issued you can assign them to the new owner and issue a new share certificate in the new owner's name. Be sure to comply with any rights of first refusal or other obligations you may have in the bylaws or a shareholders' agreement.
Customer: replied 4 years ago.

I do not think there are any paper certificates, Do I have to provide a written contract to transfer ownership a family member?

You can prepare a simple bill of sale if there are no certificated shares.

There should be a minute book for the corporation. The minute book should have share certificates. Additionally, when you transfer ownership, the new owner should update the minutes regarding officer and directors.
Loren and 5 other Business Law Specialists are ready to help you