Have Legal Questions? Ask a Lawyer Now.
First, your going to have to look or review the operating agreement for the corporation. Is there any type of operating agreement or (old) partnership agreement as to how monies are to be paid betwee the two?
Okay. That's done. There's 2 ways to proceed:
1) Buy the father out at an agreed price.
2) Have your husband take a salary and deny the father from taking a salary because he's not doing any work. This is a tough situation and will certainly leave hard feelings.
Did the father start the business originally?