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    CPM10's Avatar
    CPM10 Posts: 1, Reputation: 1
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    #1

    Oct 6, 2010, 07:35 AM
    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.
    NYcityboy's Avatar
    NYcityboy Posts: 785, Reputation: 65
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    #2

    Oct 13, 2010, 03:07 PM

    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.
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