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Loren
Loren, Attorney
Category: Business Law
Satisfied Customers: 29056
Experience:  30 years experience representing clients .
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I want to find out if a company can exist without shares. If

Customer Question

I want to find out if a company can exist without shares. If it transfers all its shares to another entity, can it simply appoint a director of the shell left behind?
Submitted: 1 year ago.
Category: Business Law
Expert:  Loren replied 1 year ago.
Thank you for using JustAnswer. I am Loren, a licensed attorney. I will do whatever I can to answer your question and provide you excellent service.
Expert:  Loren replied 1 year ago.
If you have transferred all the shares then the the person the shares were transferred to owns the corporation now.
Expert:  Loren replied 1 year ago.
Since the shareholders elect the directors, if you have no shares you no longer have any ownership in the corportion and would have no authority to elect a director.
Expert:  Loren replied 1 year ago.
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