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Loren
Loren, Attorney
Category: Business Law
Satisfied Customers: 31424
Experience:  30 years experience representing clients .
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How do I transfer ownership of company stock due to retire

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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.
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