If two owners still have remaining investments that havent been finished is it legal for one owner to remove the other from the corporate docs without consent? The removed owner is still paying for loans and dept for this company
2007-08-14 04:42:43 · 3 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
One would need to know a lot more facts. For example, if the corporate certificate or articles of incorporation (or charter) had a specific provision, that would usually control. Otherwise, the matter is governed by the state's corporate law. Sometimes, an officer can simply be removed if the other owner/shareholder owns a majority of voting shares. Other times, there may be restrictions. You should contact a lawyer who practices corporate law to advise you on this specific case.
2007-08-14 05:08:30 · answer #1 · answered by rd211 3 · 0⤊ 0⤋
That depends on what is stated in the charter of the company.
2007-08-14 04:47:13 · answer #2 · answered by Michael C 7 · 0⤊ 0⤋
depends on the state and the structure of the comany and any subsequent shareholders agreements and resolutions I am sorry to say.
2007-08-14 04:58:23 · answer #3 · answered by elysialaw 6 · 0⤊ 0⤋