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When a C corp that is set up with two classes of shares (voting/non-voting)

switches to an S corporation...
When a C corp that is set up with two classes of shares (voting/non-voting) switches to an S corporation. Aren't the shares converted to one type with equal status?
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10/11/2013
Law Educator, Esq.
Category: Business Law
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Experience: All corporate law, including non-profits and charitable fraternal organizations.
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An S-Corp can issue both voting and non-voting shares as well. Just the mere conversion of a C-corp to an S corp does not mandate the voting class of stock be merged, that is something that is at the discretion and decision of the owners of the company and the board of directors who govern or manage the shares.



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