corporation is formed in new york state
2006-07-14 09:13:56 · 5 answers · asked by sam k 1 in Business & Finance ➔ Corporations
Your friend needs to examine, Articles of Incorporation, Corporate By Laws, Minutes of all meetings and any changes indicated in the By Laws. A good attorney should have anticipated this and provided an equitable process to sell the shares. If nothing is found in Corporate Charter, Articles or By Laws, negotiate with partner for a reasonable price.
Good Luck
2006-07-14 09:27:39 · answer #1 · answered by teenriodoll 3 · 0⤊ 0⤋
Depends on how the articles of incorporation are worded, and what type of corporation he/she has. Is it an LLC, LLP, C-Corp, or S-Corp.
Best thing is for your friend to contact the lawyer that completed the initial corporate filings for them.
2006-07-14 10:12:29 · answer #2 · answered by ps2754 5 · 0⤊ 0⤋
I believe so. But I am also unsure due to the fact that the laws concerning this subject are constantly changing. So, you may want to consult with a lawyer and the law books at your local library.
2006-07-14 09:17:39 · answer #3 · answered by moonguardianluna 3 · 0⤊ 0⤋
in closely held, private corporations, the by-laws often require approval by the other shareholders or the board of directors, if one exists.
2006-07-14 09:19:45 · answer #4 · answered by g-man 3 · 0⤊ 0⤋
depends on the corporations by-laws, if no by-laws exist, then yes
2006-07-14 09:17:13 · answer #5 · answered by whoisgod71 3 · 0⤊ 0⤋