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Is it possible to make my wife 1% owner? if so, what would she have to do for the company to qualify?
Or, would it be possible for me and my current partner to give up 1% each to a third party who is a female? If so, what would such third party have to do for the company to qualify?
Our Operating Agreement calls for independent arbitration if we deadlock on an issue. We have not had to use this. we've been in business 2 years.
so the control must in the hands of one woman? or collection of women? if the latter, what would the 1% or 2% woman owner have to do to satisfy this requirement?
One last follow up. Can we put a time limit of such change in the ownership structure? i.e. we change the ownership for 1 year, and evaluate again after one year if we want to keep the structure, and certification, or revert to the current 50/50 and lose the certification.
Perfect! You have been a great help. Thank you so much.