Corporate shares among business partners
Good morning,
Myself and a friend started a business aand incorporated (c corp) in 2007. About 6 months into it we needed to borrow money and did so from my grandma. One of her stipulations was that I own 81% of the corporation. So he and I signed and stamped the shares issuing 19 to him and 81 to me, we have 100,000 total. Now my partner has lost interest in the company and is actually bring it down and making things harder. He's lazy, never comes into the office and when he does he does personal stuff rather than business. I'd like to exercise being the majority stock holder and either buy him out or kick him out with proper compensation of course. He is going to fight tooth and nail I'm sure of it so I want to make sure everything is legal like before I spring it on him. Any and all help would be much appreciated.
Thank you,
Jon