Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Business Plans (https://www.askmehelpdesk.com/forumdisplay.php?f=59)
-   -   I am a one third partner in an s-corp business. We want to change our partnership (https://www.askmehelpdesk.com/showthread.php?t=514062)

  • Oct 6, 2010, 07:35 AM
    CPM10
    I am a one third partner in an s-corp business. We want to change our partnership
    Agreement so that I am a 50% owner with my other 2 partners each owning 25% shares.What is the best way to do this? Can we simply pass a resolution? Do we just issue more stack to me until I own half of the issued shares. What are the legal requirements that need to be met to make it legally binding.
  • Oct 13, 2010, 03:07 PM
    NYcityboy

    Generally speaking, you issue stock if it's a corporation. Have the company approve the sale of the additional shares of stock and document with your next BOD meeting in the minutes of the meeting.

  • All times are GMT -7. The time now is 10:52 PM.