2006-09-08 13:54:21 · 4 answers · asked by curious K 3 in Politics & Government ➔ Law & Ethics
This is in Ohio
2006-09-08 14:29:55 · update #1
The spouse is not a part of the corporation; it was formed by brothers to exclude the spouses.
2006-09-09 12:08:18 · update #2
A corporation is a separate entity.
2006-09-08 13:56:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
First of all, Ohio is not a community property state. As an equitable property state, the court can fashion any number of ways to divide the corporate property fairly. The corporation has to decide if it wants to keep the ex-spouse as a director, or buy out his/her ownership according to the by-laws.
2006-09-08 14:38:36 · answer #2 · answered by TLBFH 3 · 0⤊ 0⤋
It all depends on the state. Rules are different for community property states than for non-community property states.
Under community property laws, ownership in a corporation may be considered a marital asset, and many special rules apply. In other states, the stock ownership might still be considered an asset that needs to be accounted for during allocation of assets.
2006-09-08 14:03:55 · answer #3 · answered by coragryph 7 · 0⤊ 0⤋
y3s
2006-09-12 13:44:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋