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Recent Close Corporation questions
What is the difference between a regular corp shareholder
what is the difference between a regular corp shareholder agreement that is not in a close corp shareholder agreement?JA: OK. The Corporate Lawyer will need to help you with this. Have you consulted a lawyer yet?Customer: not yeJA: Please give me a bit more information, so we can help you best.Customer: not yetJA: Is there anything else important you think the Corporate Lawyer should know?Customer: Yes, what are the additional things that I would need to add in a close corp shareholder agreement that is not in a regular corp shareholder agreement?JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Corporate Lawyer about your situation and then connect you two.
I have recently formed a corporation on line. Can I, as the
I have recently formed a corporation on line. Can I, as the sole share holder, serve in all officer and director positions?There is mention of "close corporation"; in the minute book I purchased. Is this something I should consider and why?
In a Delaware close corporation, can 58% of the shareholders
In a Delaware close corporation, can 58% of the shareholders dissolve a company? This is specifically for a close corporation as defined under Delaware Corp code 341. I know under Delaware Corp code 275 the board can call for a vote of shareholders however we have no board. The founders manage the company instead. It also states a unanimous decision by shareholders if the board doesn't call for a vote, but the ones wanting to dissolve only have 58%. So do they have the right to dissolve?
Close Corporation Under Delaware Corp LawCurrently in binding
Close Corporation Under Delaware Corp LawCurrently in binding arbitration. We are under Delaware jurisdiction for a close corporation in which our shareholders agreement states the company is managed by a majority agreement of the four founders. Under delaware law such agreements are allowed and enforceable. However the arbitrator states he doesn't want to harm the business by reversing agreements made in violation of the shareholders agreement so he wants to kick 2 of us out and give us shares instead because he doesn't feel we can work together. However under delaware corp code 352(a)1 it states if company is in a deadlock, we can appoint a custodian or del corp code 353 states we can have appointed a provisional director to make decisions on behalf of the company as a neutral 3rd party. Additionally is it accurate to say under shareholders can't dissolve the company without a 2/3 vote?
I have a small California corporation which is current but
I have a small California corporation which is current but not active. I have kept it currently registered because I have a small profit-sharing plan and trust. I am the only owner, employee and beneficiary of the trust. Can I discontinue the corporation and still have the trust? I don't want to convert to an IRA at this time.Thank you,Richard H.
I currently own 60% of a close corporation and my mother owns
I currently own 60% of a close corporation and my mother owns the other 40%. I am going to take over the entire company and my mother is going to sell me her interest and resign her position. There are are only 100 share of common stock issued, so she will be selling her 40 to me. What paperwork and process do I need to do this correctly? And do I have to make some kind of contribution to acquire the stock?
Must a closely held California corporation have an ending on
Must a closely held California corporation have an ending on their name? What is the definition of closely held (ex. a corporation with 6 shareholders and three of the shareholders make up over 50% of ownership)? If such a corporation has been operating without an ending on their name, how can it be remedied?
I have a shareholder agreement in a California S Corporation
I have a shareholder agreement in a California S Corporation regulating the transfer of ownership and non-compete. The corp AOIC does not have "closely held corporation" on the filings. Is a California corp legally able to create a shareholder agreement if not designated a closely held corp?
Hi, this is regarding a company cc which consists of 3 shareView more business law questions
Hi, this is regarding a company cc which consists of 3 share holders, it is a service station with a restaurant on the side of a highway, with great potential for expansion.My dad and my late uncle started the place in the 70s and and as such brought it my other uncle and gave him his share for free. And then brought in my other aunt which she bought her share, so its now 33 percent each a share.The problem is the two have the businesses the service station and the restuarant. And there is no written agreements for any type of lease or anything, they have been there for over 10 years in the businesses, and my father also wants to make a living, so he wants to build a truck stop on the premisis, but they keep sending legal letters with their lawyers telling him to stop because they dont have their permission, and they wont let my father do anything on the place he started.My question is, with no written agreements or anything, do they have the power to stop my father from carying on with his truck stop? they have the restuarant and service station and nobody bothers them.