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Asad Rahman
Asad Rahman, Attorney
Category: Business Law
Satisfied Customers: 1718
Experience:  Practicing Attorney with 10 years experience
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I bought into a company owning 60% and she has 40% can she

Customer Question

I bought into a company owning 60% and she has 40% can she be fired from the company and just get her dividend check
Submitted: 10 months ago.
Category: Business Law
Expert:  Asad Rahman replied 10 months ago.

Is she a company officer or manager or employee? You operating agreement or company bylaws should have a procedure for removing a manager or officer.

Customer: replied 10 months ago.
She is listed as secretary and I am the president the CEO in the and legal finance advisor and is this being posted to everyone to read?
Customer: replied 10 months ago.
Can you call me
Expert:  Asad Rahman replied 10 months ago.

I can but just answer does charge extra.

Customer: replied 10 months ago.
That is ok this is just the 23.00 only right?
So she can be fired is that correct.
Expert:  Asad Rahman replied 10 months ago.

Just chatting is the original charge. If she is an officer she can be terminated in the manner the bylaws or operating agreement allows.

Customer: replied 10 months ago.
she can not stay and slowly run the business in the ground. I have not been in the business long and I am still paying off loan on this business
Expert:  Asad Rahman replied 10 months ago.

Without looking at your bylaws I cannot be sure. There usually is a method for removal. If she resigns that is optimal.

Customer: replied 10 months ago.
Correct
Expert:  Asad Rahman replied 10 months ago.

I am happy to talk by phone if you are not understanding what I am trying to explain.

Customer: replied 10 months ago.
Ok I think I got it. I will double check the bylaws. That is filed under the secretary of State
Correct
Expert:  Asad Rahman replied 10 months ago.

Sometimes they are but whoever you bought the company from should have it or perhaps she does as secretary.

Customer: replied 10 months ago.
Ok thank you. You have been helpful. I just need you just this time. I do not want any monthly fees. I will use you again as needed. Thank you
Expert:  Asad Rahman replied 10 months ago.

If you can accept the amswer and rate it that would be appreciated. Any changes to your account you would need to discuss with customer service.

Customer: replied 10 months ago.
Ok thanks
Expert:  Asad Rahman replied 10 months ago.

Good luck.

Expert:  Asad Rahman replied 10 months ago.

Thanks for signing up for our service. If you still need assistance, I'm here to help. If not, could you kindly "accept" the answer and rate it so that I can be credited and can close it out?